Fixed Income Again
John K. Taber
jktaber at charter.net
Tue May 1 14:17:25 EDT 2007
On Tue, 2007-05-01 at 10:45 -0700, Dawning Sky wrote:
snip
>
> Excuse my straightforwardness, I don't get what you're complaining about.
>
> I hold Treasury Bills too. Through Treasury Direct too. I find no
> difficulty in tracking them in GnuCash.
>
> Here's what I do.
>
> Establish an account under Asset, say named Treasury Direct. Whenever
> you buy a note, bill, bond, whatever, transfer the amount you actually
> pay from whatever the funding account is, in my case, a savings
> account I have in another bank. The split looks like this
>
>
> Asset:Treasury Direct 9950.00
> Asset:Savings 9950.00
>
> At maturity, the transaction looks like this:
>
> Asset:Savings 10000.00
> Asset:Treasury Direct 9950.00
> Income:Interst:Treasury 50.00
>
> And this is exactly what happened in the reality. Treasury and IRS
> doesn't treat your income from T-Bills as Capital Gain. It's an
> interest. And what Treasury Direct tells you on how much you have in
> their account doesn't matter until reaching maturity. You T-Bills
> don't worth $10000 until they reach maturity.
>
> DS
OK, you convinced me, I was wrong.
John
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