Question about Lots and Capital Gains
cedayiv at gmail.com
Mon Mar 31 16:44:39 EDT 2008
On Mon, Mar 31, 2008 at 11:22 AM, Derek Atkins <warlord at mit.edu> wrote:
> Quoting Rich Bloch <richbl at gmail.com>:
> > Hello all,
> > I'm running 2.2.1, and I'm in the process of learning how to manage
> > purchases/sales. However, I'm having a difficult time understanding how
> > "lots" work.
> Unfortunately Lots are not fully implemented at this time.
> > There's a dialog accessed by View Lots off the main account window,
> > which--not surprisingly--permits me to scrub and view stock lots.
> > this dialog doesn't appear to do much else (either that, or I'm just not
> > seeing any functional changes). So, here are my questions:
> > --If I want to sell a stock, how does gnucash identify the stock
> > it's basis--to determine capital gains?
> It doesn't... Nor does it compute capital gains for you.
I found by accident yesterday that "View Lots" actually seems to do capital
1. Enter a sale of stock in the register without accounting for the capital
2. Choose Actions->View Lots.
3. Click the "Scrub Account" button.
4. Capital gains get calculated and a new transaction is automatically
created in the register to account for them.
So there would seem to be more functionality behind the "View Lots" dialog
than viewing alone.
> --What accounting policy does gnucash use for determining capital gains? I
> > believe FIFO is most typically used, though LIFO is also legal, as is
> > selection.
> None. See above. But the partial implementation is FIFO, IIRC.
The "Scrub Account" button used FIFO in my experiments.
> --Are there specific docs available that address how gnucash handles lots
> > (in 2.x)? I spent some time picking through notes and conversations on
> > gnucash.org and the wiki, and haven't really found anything definitive.
> There may be a lots.txt somewhere. But the only definitive source
> would be, um, the source.
> > Thanks much.
> > --
> > rich
> > Please remember to CC this list on all your replies.
> > You can do this by using Reply-To-List or Reply-All.
> 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
More information about the gnucash-user