I carry options as a stock. Just multiply the contracts by 100 to show shares
under options.
Regarding commissions, I have a subaccount under the brokerage account labeled
“Open Commissions”.
When I execute an opening transaction, then the commission is debited to “Open
Commissions”. I think of this as a prepaid expense.
When I execute a closing transaction, the commission is debited to “Open
Commissions” also. And here’s the trick.
When I use the lots function to match the two parts of the transaction, I get a
realized gain that is then adjusted by
crediting the two “Open Commissions”.
(I actually do one additional step, which is to change the above “Open
Commissions” to “Closed Commissions-CYxx” where xx is the year of the realized
gain/loss. By doing this, I have an automatic check that I have accounted for
commissions correctly, as the balance of Closed Commissions should always be 0.)
So my accounts look like this:
Brokerage: AAPL 01/15/2021 230.00 C
Transactions:
Opening (Sell Call to Open)
09/19/2018 SCO AAPL 01/15/2021 230.00 C
-1200.
Brokerage:Cash 38,379.55
Brokerage:Open Commissions 8.45
Brokerage:AAPL 01/15/2021 230.00 C -1200. 31.99
38,388.00
Closing (Buy Call to Close)
11/09/2018 BCC AAPL 01/15/2021 230.00 C
0.
Brokerage:AAPL 01/15/2021 230.00 C 1200. 25.58 30,696.00
Brokerage: Open Commissions 12.90
Brokerage:Cash
30,78.90
After matching up lots
11/09/2018 Realized Gain AAPL 01/15/2021 230.00 C
Brokerage:AAPL 01/15/2021 230.00 C 7,692.00
Brokerage:ShtTermCapGain
7,670.65
Brokerage:Open Commissions
8.45
Brokerage:Open Commissions
12.90
I then go back to each of the above transactions and change the
“Brokerage:Open Commissions” to “Brokerage:Closed Commissions-CY18”
This way, the “Open Commissions” account holds only unclosed transactions, and
all “Closed Commissions-CYxx” are 0.
(For best results, copy this message into a text file and view with a fixed
size font so columns match up.)
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