Hi Ignacio I agree there are limitations with exchange rate valuation.
I note you were using the Advanced Portfolio report. Some issues also apply to the other reports with currency conversion I can see two issues here: 1. options for exchange rates are: a) locked on to report date b) locked on to the most recent rate available c) weighted average (not sure what this means) c) average rate (not sure what this means) I think there's an old mechanism to calculate according to exact rate obtained for the transaction. I recall there was an issue with performance in the past. Perhaps we can investigate further, but no promises here. Moreover, let's say I own 1 share of AAPL. The price is $1000. The company decides to a 10:1 stock split. I receive 9 additional shares, and the price is now $100. My net worth hasn't changed but the charts cannot handle the new price and the new stock quantity smoothly. 2. your question mentions US tax with foreign stocks. I assume you are a US resident and hold foreign stocks. Let's assume it's GSK in London. There are now two rates applicable - GSK-GBP and GBP-USD. I'm not 100% sure about how it calculates GSK -> GBP -> USD. What to do when some price data is missing? I think occasionally the GSK is subsequently valued to 0 USD which is unsatisfactory. Further discussion welcome! On 21 Dec 2017 10:32 AM, "Ignacio Fernandez Ortega" <[email protected]> wrote: > I am going to respond to myself just to keep this information if someone > ask the same question in the future. > > No, it seems there is no way. Advance portfolio applies always the same > exchange rate to basis and value. (I am trying to understand the trading > option but I am not sure it is going to help me) > The other way to do it is buying the stock (initial and additional > purchases) and keeping the price list for this security using the Gnucash > main currency. In my case $. > That's the only way to keep the cost basis with the original exchange rate, > basically deleting the exchange. > > Pros: the advance portfolio is updated and you only use one currency > Cons: forget about the automatic download of quotes. You have to do it > manually. > > If your portfolio only has 2 stocks probably is fine but with 10 stocks and > several purchases and dividends every week it is a lot of work. > > I wish I could understand the program to fix the advance portfolio format > but I think in my case it could make sense to have a spreadsheet. > > Thanks > > > *********************** > > Hi, > > Question about how Gnucash handles the foreign stocks. My Gnucah main > currency is dollar but I have some stocks in EUR. > Gnucash is updating the basis cost in dollar every time I update the EUR/$ > exchange rate in the Advance Portfolio report. > However, IRS requires comparing the selling price with cost basis with the > exchange rate at each specific date. > https://www.irs.gov/individuals/international-taxpayers/foreign-currency- > and-currency-exchange-rates > > Is there a way to keep the cost basis with fixed exchange rate? > > Thanks > _______________________________________________ > gnucash-user mailing list > [email protected] > https://lists.gnucash.org/mailman/listinfo/gnucash-user > ----- > Please remember to CC this list on all your replies. > You can do this by using Reply-To-List or Reply-All. > _______________________________________________ gnucash-devel mailing list [email protected] https://lists.gnucash.org/mailman/listinfo/gnucash-devel
