Did you sell any shares?
If you did not sell any of your shares, there is no reporting requirements unless you receive a 1099 for interest or dividend income on your account. If you did sell shares, it is reported on Schedule D. Unfortunately, this type of asset is classified as the sale of collectibles, with a maximum tax rate of 28%.
Thanks for your response. Please see the page 11 of http://www.spdrgoldshares.com/media/GLD/file/SPDR-Gold-Trust-Tax-Information-2009.pdf.
SPDR Gold Trust Gross Proceeds and Expense Files shows gold ounces acquired per
SPDR Gold Trust (GLD) share purchased, gold sold (in ounces), proceeds, and expenses per SPDR Gold Trust (GLD ) Share. You can use this information to calculate your share of GLD expenses, and your gain or loss on sale of gold to pay such expenses.
Example: Shareholder XYZ purchases 200 GLD shares on 1/30/2009 at a price of $91.31 per share for a total purchase price of $18,262. Shareholder XYZ had no other purchases or sales of GLD shares during 2009 and held the shares for the remainder of 2009.
On Page 12, it states that "Shareholders who purchased their shares prior to 2009, and made no other. Doesn't this mean that the adjusted cost basis needs to be calculated and reported for 2009? Or all calculations for the prior years need to be done only when the shares are sold? This was the source of my confusion, and hence my original question post.
"purchases, should calculate their adjusted cost basis, using the gross proceeds information for the relevant years, by following the same steps as in the example above."