Mutual Funds and Realized Capital Gains question

[Frank Murphy]

About a month ago, I asked this question about
tracking Capital gains. I got no response. Is no one
here using GnuCash to track Mutual Funds?

Frank

--- Frank Murphy <fjm_maillists@yahoo.com> wrote:
> 
> In the US, Mutual Funds (or Unit Trusts in Britain)
> will pay out income once a year. This income is
> divided into Short- and Long-Term Capital Gains for
> US
> Federal tax purposes. How should I track this
> information?
> 
> I imagine that the income should be recorded under
> Income:Capital Gains:Short and :Long. Then, because
> it's reinvested, that income should be recorded as
> going into the Assets:Mutual Fund:foo account as a
> buy
> transaction.
> 
> Does this make sense? Will I be able to report these
> transactions properly come tax time? Anyone else do
> this kind of thing? Looking at the GnuCash manual,
> it
> seems to talk more about non-tradeable assets like
> paintings more than stocks or mutual funds.
> 
> Thanks for any tips on how you do this kind of
> thing.
> 
> Frank

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