Hi orogozaru, As others said, you have to report a capital gain, no matter the size. They don't care if you don't report a loss as that is money in their account. The IRS is very good at spotting any omissions of data like this on your return, because the data is all collected from the brokers, which is why not reporting a gain is a bad idea.
To determine whether you have a loss or gain, you have to calculate the cost basis of the gold sold for ETF fees as I detailed previously. Once you've done that, you then simply subtract the cost basis of the gold sold from the proceeds of each month's sale for fees and the difference is a gain if positive, and a loss if negative. (All the details are in my post.) And then you subtract the sum of all the cost basis amounts from the cost basis of your shares at the end of the prior tax year.
Once you set up the spreadsheet I posted, you can do the calculations quickly each year, and likely save yourself the cost of a tax program or more unless your investment was small. If it makes you feel better about doing the work, take the tax savings and donate it to charity. 😉
