Joshua, thanks for your clarification! it is more clear now.
Thought I now have a question about how US expats, who do not use beancount, manage to do their tax declaration, but this is probably not a question for this group. On Monday, September 9, 2024 at 8:11:02 PM UTC+2 Joshua Cabrera wrote: > 1) Honestly, it depends. The answer is very dependent on whatever > statutory requirements and/or personal reporting preferences you have. > > Yes, if it is subject to capital gains, you would want to track your cost > basis. Capital gains occur when you purchase an asset and later sell the > asset for more than what you purchased it for, so you need a cost basis to > be able to calculate that. > > You could optionally track cost basis for things that aren't subject to > capital gains if you just wish to know how much you stand to gain from > exchange/conversion differences - e.g., you're an American currently living > in Europe and are curious to know how much you would gain if you decided to > liquidate all your EUR assets into USD and move back to USA. > > In finance, these differences would be referred to as statutory reporting > vs. management reporting. > > Continuing with the American expat living in Europe example, Americans' > worldwide income is subject to tax by the IRS. Under IRS guidelines, you > would want to track your FX amounts at their historical USD amounts - i.e., > using the exchange rate from the date of the transaction. So, let's say > you're an expat living in Spain and you get paid 1,000 EUR weekly, the USD > amount you would report to the IRS would vary slightly for each week based > on the prevailing exchange rate. You would not report USD amounts by > summing your EUR and converting using the latest exchange rate. For this > requirement, you could track your EUR's cost basis in USD and simply report > at cost - not market value. > > > 2) I can't point to where in Fava's source how this is calculated exactly, > but it'd simply be the number of units (EUR) multiplied by the latest price > - this is the total current market value of your holding/position - less > the total cost basis of the holding. If you have more than one lot for your > position, then the cost basis per unit will vary by lot. > > You can get a breakdown by account in the balance sheet view by looking at > your assets and liabilities. The unrealized account under equity is simply > the sum of those amounts. > > If you want a more detailed breakdown, you can explore the holdings page - > see example below. Your unrealized amount would be market value less the > book value (cost). > > [image: Screenshot 2024-09-09 111919.png] > > If you look at the query, it will show how it's calculating everything. > > SELECT account, > units(sum(position)) as units, > cost_number as cost, > first(getprice(currency, cost_currency)) as price, > cost(sum(position)) as book_value, > value(sum(position)) as market_value, > cost_date as acquisition_date > WHERE account_sortkey(account) ~ "^[01]" > GROUP BY account, cost_date, currency, cost_currency, cost_number, > account_sortkey(account) > ORDER BY account_sortkey(account), currency, cost_date > > > 3) Yes, go to help >>> filtering entries. > > Your reporting issues are happening because you've changed your operating > currency to EUR from USD in your previous example. > > This doesn't make sense to me from an abstract finance perspective and > seems to be why you're getting funky results. If your operating currency is > EUR, then you would be tracking cost basis in EUR, not USD. > > I don't have a use for multiple operating currencies, but it seems like > others do, so you might want to explore using both EUR and USD. > On Monday, September 9, 2024 at 10:24:51 AM UTC-5 [email protected] wrote: > >> On Monday, September 9, 2024 at 1:55:02 PM UTC+2 Chary Chary wrote: >> >> >> >> This report does seem to be symmetric. >> >> >> Correction of typo: This report does *NOT *seem to be symmetric. >> >> >> > -- You received this message because you are subscribed to the Google Groups "Beancount" group. To unsubscribe from this group and stop receiving emails from it, send an email to [email protected]. To view this discussion on the web visit https://groups.google.com/d/msgid/beancount/c25022f4-31db-4790-9988-ade1da977231n%40googlegroups.com.
