Mutual Funds and Realized Capital Gains question

[Frank Murphy]

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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