[GNC] how to record tax credit for capital loss

[Mattia Rizzolo]

Hello,

I'd like some input on how to best record a tax credit due to capital
loss, and possibly the following usage of such credit.
Disclaimer: I'm not doing this for anything worth, it's a personal book
that nobody but me sees, so I can take a few liberties and not follow
whatever regulation to the letter.  Besides, I have no formal education
on accounting.


The case is the following:

1 buy security A, cost $100
2 buy security B, cost $100
3 sell security A, get $90
3a → record $10 loss
3b → get a $10 tax credit on following capital gains
4 sell security B, get $120
4a → record $20 gain
4b → offset $10 from 3b
4c → pay tax on the remaining $10 (26%, $2.6 over here)

I reckon all jurisdictions have something similar in concept, all with
their differences in details.

This is a tad further complicated by the fact that each broker has its
own "bucket" of credits (can't comingle losses and gains across
different brokers).  Also the credits expire after 4 years, so I should
record under which year they matured.  As such, I expect an addition to
my CoA, such as:
    Assets
      |- Credits
            |- Capital Loss credits
                    |- broker 1
                         |- 2020
                         |- 2021
                         |- 2022
                         |- 2023
                         |- 2024
                    |- broker 2
                         |- 2022
                         .....



I've been using gnucash for ~3 years now, but I always procrastinated on
figuring out the 3b/4b steps, just posting the resulting net tax
transaction as computed by the broker.
For me it's really not obvious what's the opposing account from where
the money should come/go...
How do people do it here? :)


Thank you for all the hints!

-- 
regards,
                        Mattia Rizzolo

GPG Key: 66AE 2B4A FCCF 3F52 DA18  4D18 4B04 3FCD B944 4540      .''`.
More about me:  https://mapreri.org                             : :'  :
Launchpad user: https://launchpad.net/~mapreri                  `. `'`
Debian QA page: https://qa.debian.org/developer.php?login=mattia  `-
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