Advanded portfolio breakdown

[Scott Armitage]

#alsoNotAQualifiedTaxAdvisor


On Mon, Apr 28, 2014 at 5:50 PM, Scott Armitage <
account+gnucash at scott.armitage.name> wrote:

> There are many different tax systems in the world, each of which has its
> own codes and processes and rebates. GnuCash cannot possibly cover
> everything. The Advanced Portfolio Report lets you review your holdings and
> their performance over time, but when it comes to submitting taxes, you
> should 100% *always* rely on the tax documents provided by your broker(s).
>
>
> On Mon, Apr 28, 2014 at 5:44 PM, Mike or Penny Novack <
> stepbystepfarm at mtdata.com> wrote:
>
>> Scott Armitage wrote:
>>
>>  The portion coming from stock price increase, also known as capital gain,
>>> will be reflected by your "unrealized gain", while dividends will be
>>> reflected by your "income".
>>>
>>>
>> I'm really going to jump in here again, after pointing out that I am NOT
>> a qualified tax advisor.
>>
>> LOGICALLY what you said is correct. The gain that comes from an increase
>> in the price of the stock is a "capital gain". But whether you end up
>> reporting that as "income" or a "capital gain" is going to depend on the
>> tax code and this MAY (it used to) depend on the length of time from when
>> the stock was bought to when it was sold. The tax code MAY tax (what it
>> considers) capital gains at a different rate than ordinary income.
>>
>> Michael
>>
>>
>>
>