Stock Basis and Capital Gains from sale

Derek Atkins warlord at MIT.EDU
Tue Jul 15 12:28:43 CDT 2003


Steve Wallace <s.wal at verizon.net> writes:

> 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?

The documentation is being re-written...  GnuCash will happily keep
track of your investments....

> 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?  

Unfortunately you can't (yet).  This work is under-way..  The plan is
to implement "lots", and then you just specify which lots you sold.

>   Can I
> specify the basis calculation method to be used?  

Not yet.  See above.

>  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.

Right now gnucash does not have this functionality.  You need to
keep track of the basis "by hand"...   Sorry.  It's being worked
on....

> Thanks,
> Steve Wallace

-derek

-- 
       Derek Atkins, SB '93 MIT EE, SM '95 MIT Media Laboratory
       Member, MIT Student Information Processing Board  (SIPB)
       URL: http://web.mit.edu/warlord/    PP-ASEL-IA     N1NWH
       warlord at MIT.EDU                        PGP key available


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