[GNC] Selling security using specified (arbitrary) lots

[sunfish62 at yahoo.com]

Actually, the lot manager allows a user to select specific lots for a sale. I was impressed by this aspect of the lot manager. However, be aware that the manager will recalculate already-cleared transactions without notice, which is a primary reason why I don't use lots any more. 

Presumably, if you've advised your broker which lots to sell, the broker statement will inform you of the reported gains based on those lots, and I would use that figure to enter gains manually. 

⁣David T. ​

On Jun 22, 2024, 3:01 AM, at 3:01 AM, David Carlson <david.carlson.417 at gmail.com> wrote:
>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
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