Newbie Q - Selling Stocks or Mutual Fund by just entering in the transaction amount

[Suresh Bazaj]

Hello,

 

            The procedure described in Chapter 8 (Investments) to record
stock or mutual fund transactions is quite elaborate. Is there a way to
simply record the buy and sale amounts and enter the Capital Gain/Loss as a
split transaction. Here is an example:

 

1.     I bought a mutual fund shares for $10,000. This is a simple
transaction. $10K is taken out of the checking account and the shares are
added to ABC Brokerage sub account under Assets.

2.     The shares are then sold for $9,500, i.e., for $500 Loss (could be LT
or ST). How do I enter it as a split transaction?

 

In theory I understand that I need to split the $10,000 as $9,500 sale and
$500 loss. Also, it needs to tied to the Asset that was bought for $10,000.
How?

 

Thanks,

 

Suresh