Alright, this is starting to make some sense :) My country (Finland) uses
FIFO method so I marked the relevant account as such:
2018-01-01 open Assets:Nordnet:EUNL EUNL "FIFO"
And then I mark the selling transaction like this:
2020-03-10 * "EUNL sold"
Assets:Nordnet:EUNL -20 EUNL {} @ 47.996 EUR
Expenses:Financial:Commissions 15 EUR
Assets:Nordnet:Cash 944.92 EUR
Income:Capital-Gain
This seems to resolve the problem and in Fava I can see the Capital-Gain
having now a sensible value in euros.
Is this correct? Fyi I don't use Beancount to make reports for taxation
since most of the information about taxation is automatically reported to
the tax office in Finland and I'm using Beancount just to keep track on my
spending and net worth.
torstai 30. huhtikuuta 2020 23.46.09 UTC+3 Red S kirjoitti:
>
> You're on the right track with your questions. Responses inline:
>
> On Thursday, April 30, 2020 at 12:03:55 PM UTC-7, [email protected]
> wrote:
>>
>> Thanks. Didn't get it yet but I have few questions.
>>
>> 1) After reading the doc it seems to me that I should specify which lots
>> I sold by using {} syntax, am I right? When I sell a part of my position,
>> my bank does not let me to select which lots I'll sell. So I have
>> difficulty in understanding how to apply the lot's price to the
>> transaction. Based on my bank's report I only know that I sold 20 shares.
>> And to clarify I sold only a part of my total position.
>>
>
> If you bank does not let you select (STRICT booking, aka "specific
> identification of shares" in the US), it's possible they picked lots to
> sell using FIFO, LIFO, average cost, or some other method. I'm not familiar
> with the laws that apply to you, but you could either research this or
> back-work it out by asking your bank the value of the gains you realized in
> that transaction, if they are required by law to maintain that.
>
>
>
>> 2) Is the booking method (strict, fifo, lifo, average, none) somehow
>> relevant in this and if so, what implications each one has? Since I can't
>> manage which lots I sell from by bank, to me it seems like it would make
>> sense to use average method. Or is this completely unrelated to my problem?
>>
>
> Yes, this is very related to your problem. If you're sure it's not FIFO or
> LIFO, then it's likely AVERAGE. However, average cost booking is not yet
> implemented
> <https://xuhcc.github.io/beancount-docs/11_how_inventories_work.html#average-booking>
>
> fully in Beancount. The simple hack is to use the NONE
> <https://xuhcc.github.io/beancount-docs/11_how_inventories_work.html#no-booking>
>
> booking method. You can also simulate
> <https://xuhcc.github.io/beancount-docs/19_trading_with_beancount.html#average-cost-booking>
>
> AVERAGE.
>
>
>
>> 3) In the example transaction you gave I don't understand the point of
>> the Income row. I sold 20 shares with price 47.996 EUR, and in return I had
>> to pay 15 EUR commissions and I got 944.92 EUR to my Cash account. While
>> this transaction would likely result in capital gain or loss, I don't
>> understand how I would calculate that when I don't know the prices of lots
>> I sold. Again I guess this is just a result of my confusion with the first
>> question.
>>
>
> This gets into what you're trying to do, and what your tax laws require
> you to do. If you aren't required to report the gains (eg: tax sheltered
> accounts in the US are like this), you setting the booking method to NONE
> <https://xuhcc.github.io/beancount-docs/11_how_inventories_work.html#no-booking>
>
> is a quick hack if you don't care about recording the gains for yourself.
> As Martin notes: *"Note: If you are familiar with Ledger, this is the
> default and only booking method that it supports."* So while it's one way
> of doing things, one of the things that made me move to Beancount from
> Ledger was booking methods beyond NONE.
>
>
>
>> Finally I'm not shorting and this is the first transaction I'm selling
>> this ETF so afaik the balance should not be negative in any part of the
>> ledger as seems to be the case in some other threads. Anyway, I'll try to
>> keep reading and figuring out what I should do.
>>
>
> Your sale got counted as a short position. Your subsequent purchase was
> assumed to be a short-closing transaction, and beancount attempted to match
> it against your sale.
>
>
>
>
>
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