On 9/24/2024 4:56 PM, Boniforti Flavio wrote:
Hi.
I'm partner and own stocks of the company I work for. This company is not
on the public market.
The stock value is defined once per year and dividends are then paid out.
Do I understand correctly, that I don't have to set up a "stock" type
account for this, as those stocks are not publicly traded?
And the dividends are an account of type "income" - right?
Thanks,
I'm a partner .... I own stock
a) please consult a professional
b) the "publicly traded" issue only means you would have this asset on
your books the old fashioned way ("stock type" is a gnucash thing, not a
fundamental type of double entry bookkeeping. Your stock has a "basis",
what it cost you. You would have a capital gain (or loss) if/when you
sold it and there MAY be a valuation say if donated or bequeathed.
CONSULT A PROFESSIONAL. BTW, folks, while the overwhelming
capitalization is in publicly traded stocks the overwhelming number of
stock entities are NOT publicly traded.
Michael D Novack
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