Stock Basis and Capital Gains from sale
Steve Wallace
s.wal at verizon.net
Tue Jul 15 11:49:02 CDT 2003
I am a new user of GnuCash 1.8.4. I am located in the USA. Looking for
a Quicken replacement. Don't expect a lot of fancy features but need
basic investing capabilities. I have quickly read through the documents
I have been able to find. Sections on investing are mostly just
headings, is this because investing features are not yet implemented or
just missing documentation? I have looked at the Help Manual, the
Concepts & Tutorial Guide did I miss something?
I acquire shares of a stock or mutual fund over a period of several
years. Shares are purchased at many different prices using new cash or
re-invested dividends. Commissions or fees may be charged at the time
of purchase and sale. How do I setup GnuCash to find the basis of the
assets sold and calculate the correct taxable Capital Gain? Can I
specify the basis calculation method to be used? For stocks I typically
need to use the FIFO method of determining basis, but sometimes need to
specify the exact lots to be sold. For Mutual Funds I typically need
single category average cost accounting but sometimes use FIFO.
Sorry for such a basic question. I must be missing something, but I
don't see how find the basis or capital gains at all.
Thanks,
Steve Wallace
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