[GNC] non-currency liabilities

[dann frazier]

On Wed, Aug 5, 2020 at 2:41 PM doncram <doncram at gmail.com> wrote:
>
> I said:
> > ........ I am not an expert about how personal financial accounting should be done, where that is different from business accounting.......
> Another said:   "If you lack the "qualifications" to be a tax advisor, don't say tings
> like that"
> My response:  Well, I don't think i did wrong by suggesting there could be tax consequences of how the educational fund was set up, and by my pointing to 529 plans in the U.S., not yet brought up.  I will try to be clear about what I know and don't know, and think I did okay that way in the qualifications I stated.
>
> Right, though, I surmised, possibly incorrectly, that for the original poster, that unrealized gains/losses in an informal fund should be included in regular income and would be taxable.  It has been pointed out that the gains/losses might not be taxable until stocks are sold. Their question, anyhow, was how to do the accounting in GnuCash, and that is still open IMO.

If it helps set anyone's mind at ease, I didn't take this as tax advice :)

  -dann