Yes, that looks correct!
On Thursday, April 30, 2020 at 11:54:09 PM UTC-7, salmi...@gmail.com wrote:
>
> Alright, this is starting to make some sense :) My country (Finland) uses
> FIFO method so I marked the relevant account as such:
> 2018-01-01 open Assets:Nordnet:EUNL EUNL "FIFO"
>
> And then I mark the selling transaction like this:
> 2020-03-10 * "EUNL sold"
> Assets:Nordnet:EUNL -20 EUNL {} @ 47.996 EUR
> Expenses:Financial:Commissions 15 EUR
> Assets:Nordnet:Cash 944.92 EUR
> Income:Capital-Gain
>
> This seems to resolve the problem and in Fava I can see the Capital-Gain
> having now a sensible value in euros.
>
> Is this correct? Fyi I don't use Beancount to make reports for taxation
> since most of the information about taxation is automatically reported to
> the tax office in Finland and I'm using Beancount just to keep track on my
> spending and net worth.
>
>
> torstai 30. huhtikuuta 2020 23.46.09 UTC+3 Red S kirjoitti:
>>
>> You're on the right track with your questions. Responses inline:
>>
>> On Thursday, April 30, 2020 at 12:03:55 PM UTC-7, salmi...@gmail.com
>> wrote:
>>>
>>> Thanks. Didn't get it yet but I have few questions.
>>>
>>> 1) After reading the doc it seems to me that I should specify which lots
>>> I sold by using {} syntax, am I right? When I sell a part of my position,
>>> my bank does not let me to select which lots I'll sell. So I have
>>> difficulty in understanding how to apply the lot's price to the
>>> transaction. Based on my bank's report I only know that I sold 20 shares.
>>> And to clarify I sold only a part of my total position.
>>>
>>
>> If you bank does not let you select (STRICT booking, aka "specific
>> identification of shares" in the US), it's possible they picked lots to
>> sell using FIFO, LIFO, average cost, or some other method. I'm not familiar
>> with the laws that apply to you, but you could either research this or
>> back-work it out by asking your bank the value of the gains you realized in
>> that transaction, if they are required by law to maintain that.
>>
>>
>>
>>> 2) Is the booking method (strict, fifo, lifo, average, none) somehow
>>> relevant in this and if so, what implications each one has? Since I can't
>>> manage which lots I sell from by bank, to me it seems like it would make
>>> sense to use average method. Or is this completely unrelated to my problem?
>>>
>>
>> Yes, this is very related to your problem. If you're sure it's not FIFO
>> or LIFO, then it's likely AVERAGE. However, average cost booking is not
>> yet implemented
>> <https://xuhcc.github.io/beancount-docs/11_how_inventories_work.html#average-booking>
>>
>> fully in Beancount. The simple hack is to use the NONE
>> <https://xuhcc.github.io/beancount-docs/11_how_inventories_work.html#no-booking>
>>
>> booking method. You can also simulate
>> <https://xuhcc.github.io/beancount-docs/19_trading_with_beancount.html#average-cost-booking>
>>
>> AVERAGE.
>>
>>
>>
>>> 3) In the example transaction you gave I don't understand the point of
>>> the Income row. I sold 20 shares with price 47.996 EUR, and in return I had
>>> to pay 15 EUR commissions and I got 944.92 EUR to my Cash account. While
>>> this transaction would likely result in capital gain or loss, I don't
>>> understand how I would calculate that when I don't know the prices of lots
>>> I sold. Again I guess this is just a result of my confusion with the first
>>> question.
>>>
>>
>> This gets into what you're trying to do, and what your tax laws require
>> you to do. If you aren't required to report the gains (eg: tax sheltered
>> accounts in the US are like this), you setting the booking method to NONE
>> <https://xuhcc.github.io/beancount-docs/11_how_inventories_work.html#no-booking>
>>
>> is a quick hack if you don't care about recording the gains for yourself.
>> As Martin notes: *"Note: If you are familiar with Ledger, this is the
>> default and only booking method that it supports."* So while it's one
>> way of doing things, one of the things that made me move to Beancount from
>> Ledger was booking methods beyond NONE.
>>
>>
>>
>>> Finally I'm not shorting and this is the first transaction I'm selling
>>> this ETF so afaik the balance should not be negative in any part of the
>>> ledger as seems to be the case in some other threads. Anyway, I'll try to
>>> keep reading and figuring out what I should do.
>>>
>>
>> Your sale got counted as a short position. Your subsequent purchase was
>> assumed to be a short-closing transaction, and beancount attempted to match
>> it against your sale.
>>
>>
>>
>>
>>
>
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