[GNC] Selling security using specified (arbitrary) lots

[David Carlson]

Art,

AFIK, there is no tool in GnuCash to help you.  I personally use a
combination of a spreadsheet to manually track lots along with personally
developed lot coding in the description of purchase and sale transactions.
Then I depend on the broker to report it correctly to the IRS.  In my case
it has always happened to align with fifo, but my method works for an
arbitrary sequence. I do not trade actively so I have very few examples in
my database.

On Thu, Jun 20, 2024 at 7:51 PM Art Chimes <artsonline at gmail.com> wrote:

> I've searched and searched over the past couple of days, looking for some
> assistance in how to record a transaction in GnuCash. I hope I can find
> some answers here.
>
> Over a period of many years I acquired a significant number of shares in a
> company I'll call TechCo. I'm selling off some of the shares to avoid
> having an uncomfortable concentration of assets in that corporation. For
> (U.S.) tax purposes I specified to my broker specific lots to sell so as to
> minimize the capital gains hit.
>
> Most investors apparently use other conventions: FIFO (first in, first
> out), LIFO (last in ...) average basis. All are permissible. FIFO is
> apparently the GnuCash preference, since it seems to be the only one that
> will auto-generate a capital gains calculation.
>
> I have searched GC's documentation and the mailing list and, for good
> measure, Reddit and YouTube. However, I have not found an example or a
> clear description of how to get my transaction into the program.
>
> Thanks for any help you can offer.
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-- 
David Carlson