[GNC] Selling security using specified (arbitrary) lots

[R Losey]

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.
>

If you are going to that level of detail, why not create an account to hold
the capital gains amount, and then when you sell, enter the gains into the
capital gains account?

You'd have to do some housecleaning to reset the balance to zero each year,
but it seems like it could be done.

Or, as has been suggested, you could just use a spreadsheet to track this
level of detail.


-- 
_________________________________
Richard Losey
rlosey at gmail.com
Micah 6:8