On 6/23/2022 8:48 PM, Gao Bite wrote:
GnuCash developers & Maintainers:
Hello! I have found several issues when I am reading your "Tutorial
and Concepts Guide". When I reads methods in the 11th chapter,I have
found that its example is based on non-fungible asset like painting.
However, what I am expecting is that records capital gains for
fungible securities (stock, bonds, ETF, etc.). How can I apply method
in this chapter to these type of assets?
Yours,
Bite Gao
June 19th, 2022
First of all, the gnucash tutorial is just that. Not supposed to be the
equivalent of an accounting 101 text. It's just simplified basics. If
you need more, seek out more.
But second, and perhaps more to the point for those wanting/needing BOTH
an estimate of their true net worth and also books useful for reporting
according to the rules of their jurisdiction is to recognize that
gnucash can keep more than one set of books. Within reason, as many as
you want.
Thus, if you are not taxed on unrealized gains, etc. you want one set of
books on that basis. That is where you enter all your ordinary
transactions and from which you extract the data for tax filings, etc.
But if the reality is that you have investments perhaps specifically
chosen because their increase in value is NOT currently taxable, you can
have a second set of books for that purpose. Note I am NOT talking about
double the effort. That second set of books might just have transactions
reflecting annual adjustments for net realized gains/losses plus
unrealized gains/losses plus any transactions involving the acquisition
or disposition of such investments << or quarterly or whatever you want >>
Michael D Novack
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