> If I run out of past credits then that's a final gain, that's taxable
> the moment it's realized (and some brokers straightly withold it from
> the selling price!), it's not possible to offset with a future loss
> within the same year.
It should be total obvious that to minimize taxes if you
On Wed, Jan 24, 2024 at 08:26:02AM -0800, Patrick James wrote:
> So if you have a DR balance in your Brokerage 1 2020 account, then
> you'd credit that account if you sold for a gain today, until the
> account balance is zero, and then you'd credit 2021 for the leftover
> CR amount, up to the 2021
Ah. I missed the carryover part. That does complicate things. Sorry for the
noise.
David T.
On Jan 24, 2024, 6:55 PM, at 6:55 PM, Mattia Rizzolo wrote:
>Here we don't do LT/ST, but it's only possible to offset losses up to
>the end of the 4th year after the loss was realized. Meaning that
You mention picking the earliest year to minimize the tax liability (i.e.
maximize the loss matching), but within a window of time.
> On 01/24/2024 7:53 AM PST Mattia Rizzolo wrote:
>
> Besides, one offests losses by fist pickin the
> furtherst year first, so it's good to know how much is
I also should add that I am not an accountant. Having said that...
I'd do like David said... since the category is called Capital "Gains", I'd
make it an Income category, with sub-categories for each broker (hopefully
there aren't too many), and maybe every year.
I say "maybe" because if you
(and the attachemnt)
On Wed, Jan 24, 2024 at 04:53:57PM +0100, Mattia Rizzolo wrote:
> Here we don't do LT/ST, but it's only possible to offset losses up to
> the end of the 4th year after the loss was realized. Meaning that 2019
> losses are now in stone. Besides, one offests losses by fist
Here we don't do LT/ST, but it's only possible to offset losses up to
the end of the 4th year after the loss was realized. Meaning that 2019
losses are now in stone. Besides, one offests losses by fist pickin the
furtherst year first, so it's good to know how much is left to offset
from each
Likewise not an accountant.
In the US (my tax authority), gains are taxed at two rates (long term and short
term), and gains and losses offset each other. I maintain separate income
accounts for short term and long term gains/losses (income accounts because I'm
an optimist!). These are placed
I have ran into this situation in the past. Even though you update certain
items and balances, when you save it it reverts back to what it was originally
there ... (I think it is a bug but haven't looked into it further). The way I
have worked around is to fake it to look like a "new"
Again keeping in mind that I am NOT a tax authority.
Now that we're on the equity side, let's move forward with your tracking.
I very much doubt that you need two separate accounts for the losses and gains;
from what you're suggesting, you need to match some gains with some losses. I
would
I'm fixing up a couple of old transactions that I didn't really record
correctly, and here is one that is baffling me.
Attached you can find a screenshot of the journal.
What happened is that this company issued some options to its
shareholders to to some capital increase.
So, the regular stock
Thank you Patrick for your suggestion!
I see what you are suggesting here… Mh.
It could easily become very messy as the rules for offsetting gains is
fairly annoying here: gains some financial instruments can offset losses
only from some other particular financial instruments (i.e., "gains"
from
12 matches
Mail list logo
