investment

[Maf. King]

On Tue 14 July 15 10:43:35 nosherwan wrote:
> What should I do if some of my relatives gives me money for investing on his
> behalf in those case,  buying a property, when the price goes up I sell it
> and then we share the profit.
> 
> 
Hi,

IMHO, the first thing you should do is seek professional advice about your 
local laws and tax implications for partnerships (and their dissolution - 
relatives can fall out over commercial matters just like any other partners).

Within gnucash, I suggest you have new file for your "partnership property 
company" and record each partners contribution as equity.

In your personal books, probably a loan to Assets:LoansGiven:PropertyCo
as the profits come back, you gradually reduce that loan to zero, then start 
recording the excess as income, but it will all depend on your local tax 
reporting requirements, which I'm not qualified to advise upon.

HTH,
Maf.