PowerShares K-1 Tax Center
PowerShares by Invesco is committed to transparency and investor relations. This page is intended to provide education and clarity on products that issue K-1s. However, PowerShares does not issue tax advice. For additional information, please contact your tax professional.
K-1 contact information
|PowerShares DB Agriculture Fund (DBA)||866-526-0136|
|PowerShares DB Base Metals Fund (DBB)||866-592-5848|
|PowerShares DB Commodity Index Tracking Fund (DBC)||800-578-8755|
|PowerShares DB Energy Fund (DBE)||866-592-6159|
|PowerShares DB G10 Currency Harvest Fund (DBV)||877-527-6397|
|PowerShares DB Gold Fund (DGL)||866-592-6361|
|PowerShares DB Oil Fund (DBO)||866-592-6421|
|PowerShares DB Precious Metals Fund (DBP)||866-592-6423|
|PowerShares DB Silver Fund (DBS)||866-592-5929|
|PowerShares DB US Dollar Bearish Fund (UDN)||866-592-6424|
|PowerShares DB US Dollar Bullish Fund (UUP)||866-592-6425|
Generally, any capital gains, capital losses, income and expense reported to you on Schedule K-1 needs to be included in your tax returns. Investors should consult with a tax professional.
The IRS requires an entity treated as a partnership to provide a Schedule K-1 to each partner, regardless of the manner in which the shares are held. (Generally, if shares are held in a tax exempt account, income items on the K-1 are not required to be reported in a federal tax return.) Investors should consult with a tax professional regarding their personal circumstances.
The PowerShares DB funds are each treated as partnerships for tax purposes. The information must be reported on a Schedule K-1.
The PowerShares DB funds are Delaware statutory trusts which are treated as partnerships for U.S. tax reporting purposes. Shareholders are required to report there allocable share of income/gain/loss on an annual basis. Certain regulated futures contracts held by the funds are subject to "mark-to-market" taxation of the unrealized gains, under which contacts are treated as if they were sold by the funds at their fair market value at year end. Any resulting gain/loss must be included in a partner's share of taxable income for the year.
Investors should consult with a tax professional. In most cases, capital gains and/or losses on the sale of shares must be disclosed in a tax return. The sales schedule is the result of sales on an investment and included related adjustments to the investor's tax basis.
Investors should consult with a tax professional. This election is generally only applicable when a loss is reported on the K-1.
An investor's tax basis is typically the initial amount paid for the shares (include fees) adjusted by the total amounts of income and gain and/or the total amounts of expense, loss and distributions reports on the K-1. If an investor sold shares, the sales schedule include the total amounts of income, gain, expense, loss and distributions.
In general, cash distributions are not taxable. However, if the cumulative cash distributions received exceed your tax basis, you would have a taxable gain to report.
PowerShares DB ETFs are not exposed to UBTI.
PowerShares DB funds are required to obtain information regarding ownership interests bought and sold during the year. This information is usually provided in late January. The manager of the PowerShares DB funds reviews the information and provides the K-1 information as early as possible. In the past, the K-1 information has been made available before March 1st.
If not received in the mail, the K-1 can be retrieved from using the "My DB K-1 Account" link above.
The information in the K-1 was reported to us by your broker. Please see above for the relevant 2015 K-1 contact phone line information.
Deutsche Bank, PowerShares by Invesco and their affiliates do not provide tax advice, and nothing contained herein should be construed to be tax advice. Please be advised that any discussion of US tax matters contained herein (i) is not intended or written to be used, and cannot be used, by you for the purpose of avoiding US tax-related penalties and (ii) was written to support the promotion or marketing of the transactions or matters addressed herein. Accordingly, you should seek advice based on your particular circumstances from an independent tax adviser.
The Shares of the Funds are not deposits, interests in or obligations of any Deutsche Bank AG, Deutsche Bank AG London, Deutsche Bank Securities Inc. or any of their respective subsidiaries or affiliates or any other bank (collectively, the "DB Parties") and are not guaranteed by the DB Parties.
The indices underlying the above-referenced PowerShares DB funds are products of Deutsche Bank AG and/or its affiliates. Information regarding the Index is reprinted with permission. Deutsche Bank® and DB™ are trademarks of Deutsche Bank AG. The Index and trademarks have been licensed for use for certain purposes by Invesco PowerShares Capital Management LLC, an affiliate of Invesco Distributors, Inc. The above-referenced funds are not sponsored, endorsed, sold or promoted by Deutsche Bank AG, Deutsche Bank AG, London Branch, Deutsche Bank Securities Inc. or any of their affiliates ("Deutsche Bank") or third party licensors and none of such parties makes any representation, express or implied, regarding the advisability of investing in the funds, nor do such parties have any liability for errors, omissions, or interruptions in the indices. The indices are calculated and administered by Deutsche Bank without regards to the Fund.
Invesco PowerShares Capital Management LLC and Invesco Distributors, Inc. are not affiliated with Deutsche Bank Securities Inc.
Shares are not individually redeemable. Owners of the Shares may acquire those Shares from the funds or tender those Shares for redemption to the Funds in Creation and Redemption units, respectively consisting of 200,000 shares.
The PowerShares DB funds are not mutual funds or any other type of Investment Company within the meaning of the Investment Company Act of 1940, as amended, and are not subject to regulation thereunder. This material must be accompanied or preceded by a prospectus. Please read the prospectus carefully before investing. To download a copy of each PowerShares DB prospectus please visit DBA, DBB, DBC, DBE, DBV, DGL, DBO, DBP, DBS, UUP and UDN.