Accounting question --- how does YOUR jurisdiction tax "gains or losses
from sale of securities"? In other words, you might very much NOT want
to do this in your main books, as would complicate matters at tax time.
This does NOT mean that you can't use gnucash to ALSO provide you with
more realistic "net worth" information. I'm here in the US, where
capital gains are taxed differently than "income" so I would not want to
do what you propose in my main books. But if a large component of my net
worth was in "unrealized gains" I might choose to have a separate set of
books just for this purpose. That would not be a lot of extra work as
the only transactions here would be acquisition and sale of assets plus
periodic adjustments to market.
Like I said, this is a TAX issue. Thus you may be seeing people
discussing adjusting to market in their regular books but they are
talking about holdings in a 401k, IRA, Roth IRA, or other form of tax
sheltered account.
Michael D Novack
On 8/11/2022 10:30 AM, Mahon Finbar wrote:
Hello,
I am trying to rationalise my shares (or things that have a moving
value) holdings.
I understand the basics of GNU, in that I have been a user for some
time and have been able to record transactions, create reports to
satisfy the taxman, etc., but I keep getting bits and pieces of
information from the various places where my shares are registered,
mostly about values and dividends and the like.
I have a somewhat random selection of 'accounts' with information
about my (relatively small number) of holdings (a word that is a bit
strong for my situation)
What I am aiming to do is get a simple account or accounts where I can
just register what I paid, what dividends and other income stuff I may
have had and items such as current value.
Is there a simple source in the 'help' for creating that and what is
it called and what does it contain?? If not where should I start??
Sorry to be a neophyte, but I am a bit frustrated.
Finbar (located in Europe, but only really dealing in €)
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