Hi Fred/Derek/flywire/all,
Maybe I am just not understanding the situation as you are describing
it, but I have not ever seen a 1099DIV (the USA's IRS form for
accounting for dividend payments -
https://www.irs.gov/forms-pubs/about-form-1099-div) that also listed
basis adjustments on it...? But I have only seen a few foreign/non-US
dividend statements...
I understood basis adjustments to be accounted for when the asset is
sold and the most common adjustments for US stocks are wash sales, but I
can't ever remember seeing those noted on a 1099DIV, they are usually
recorded on a 1099B (https://www.irs.gov/forms-pubs/about-form-1099-b).
If the asset is not being sold/disposed of
(https://www.irs.gov/forms-pubs/about-schedule-d-form-1040 &
https://www.irs.gov/taxtopics/tc703), would just making a note that
could carry forward to the next year be the easiest thing to do?
Maybe I am just not understanding, are there more details that you could
share with us?
Thanks,
Brad
P.S. Although I like to include all the related emails in my response,
Thunderbird (the email client I use -
https://www.thunderbird.net/en-US/) is separating flywire's email, even
though it has the same subject line, from Fred & Derek's emails...?
On 8/8/23 13:32, Derek Atkins wrote:
Hi,
On Tue, August 8, 2023 4:12 pm, Fred Tydeman wrote:
How does one record an Addition to basis for a stock?
The splits involved are:
Income: qualified div
Income: non-qualified div
Expense: foreign tax
Asset: cash
Imbalance -- should be addition to basis
I have tried changing the Imbalance to
Asset: stock
with a price of 0.00, but gnucash adds shares with a price of 1.00
ISTR there are "issues" with this... Keep in mind, when entering data in
the stock account, you need to enter TWO of the three values (#shares,
price, and value), and GnuCash will compute the third. Note that it's the
#shares and total value that is stored, the price is always computed. In
THIS particular case, you can TRY to enter 0 shares and the change in
value, but I'm not 100% sure GnuCash will like that. It's been a while
since I played in the stock accounts.
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-derek
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