I suppose if you record the purchase price then the entry put into
Equity:Opening-Balances would be 20,000 USD instead of 100 VTI (assuming
VTI price is 200 USD). I doubt that matters to you.
I can imagine some bookkeeping differences when you go to sell.
Vagaries of how to record gains/losses and whatnot*. If you have the
price info now, you should include it so that you don't have to try to
track it down years from now. Easier to remove it at a later date.
I recommend reading this section [3].
(I admit a little confusion at how you have pricing information for
"initial balances" when to me that term implies something like, "I
choose to ignore the details of how past transactions got me to where I
am, and just start with the current balances." Maybe you have an
average price or something.)
*Although for 401(k) and IRA accounts you don't care much about various
lots or the price at purchase.
* Traditional-type: you didn't pay any taxes up front and pay the same
tax rate on all withdrawals whether they are from contributions or
growth.
* Roth-type: you paid taxes up front and pay no taxes on all
withdrawals whether they are from contributions or growth.
On 2024-10-24 3:24 pm, Jason Crews (the1gofer) wrote:
Thanks. Will it cuase issues in the future if i do record the purchase
price?
On Thursday, October 24, 2024 at 12:49:44 PM UTC-7 [email protected]
wrote:
What are you looking for beyond something like what you would find here
[1]?
Modified example:
2014-01-01 open Assets:IRA
2014-01-01 open Equity:Opening-Balances
2014-01-02 * "Deposit"
Assets:IRA 100.00 VTI
Equity:Opening-Balances
On 2024-10-23 5:14 pm, Jason Crews (the1gofer) wrote:
What is the best way to record the initial balances investment accounts
such as 401k's and IRA's?
I know how many shares I am holding, but it's difficult to determine
how much cash I've put in vs growth over the years. I don't want to
track the market value, so I'm not sure how to proceed.
--
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 visit
https://groups.google.com/d/msgid/beancount/e801cdad-5158-48d8-96f5-448fdba37fc6n%40googlegroups.com
[2].
--
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 visit
https://groups.google.com/d/msgid/beancount/6ae7ff9b-6b6c-481a-bb7e-0fad94899553n%40googlegroups.com
[4].
Links:
------
[1] https://beancount.github.io/docs/getting_started_with_beancount.html
[2]
https://groups.google.com/d/msgid/beancount/e801cdad-5158-48d8-96f5-448fdba37fc6n%40googlegroups.com?utm_medium=email&utm_source=footer
[3] https://beancount.github.io/docs/how_inventories_work.html
[4]
https://groups.google.com/d/msgid/beancount/6ae7ff9b-6b6c-481a-bb7e-0fad94899553n%40googlegroups.com?utm_medium=email&utm_source=footer
--
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 visit
https://groups.google.com/d/msgid/beancount/f123ec8f25ca519094c73f3df8046871%40axvig.com.
