I'll chime in to say that I started out using separate dividend accounts for each stock, but maintenance got to be a royal pain. I backtracked, and now I have umbrella dividend accounts for each brokerage account. So,
Income:Dividends:Taxable:BrokerAccountA Income:Dividends:Taxable:BrokerAccountB Income:Dividends:Untaxed:BrokerAccountC Income:Dividends:Untaxed:BrokerAccountD This way, I can quickly match my records against the tax statement at the end of the year. For gains, I add another layer to separate long term and short term gains in the taxable accounts, since I need to distinguish them for tax purposes. You may want to separate Roth transactions from others-- again, for tax purposes. David T. Note: I am neither an accountant nor an expert. -------- Original Message -------- From: John Ralls <jra...@ceridwen.us> Sent: Tue Nov 24 13:21:45 EST 2020 To: Larry Long <llon...@gmail.com> Cc: Gnucash Users <gnucash-user@gnucash.org> Subject: Re: [GNC] Accounts for Tracking Dividends Larry, You're welcome, but please remember to copy the list on all replies. Regards, John Ralls > On Nov 24, 2020, at 9:40 AM, Larry Long <llon...@gmail.com> wrote: > > Thanks, John! > > Until now, I've been using GnuCash to track only cash, checking, loans and > credit card accounts. > Digging into tracking stock, dividends and other transactions is another > uphill learning curve for me. > > > Larry > > > > On Tuesday, November 24, 2020, 12:23:40 PM EST, John Ralls > <jra...@ceridwen.us> wrote: > > > > > > On Nov 24, 2020, at 9:06 AM, Larry Long <llon...@gmail.com> wrote: > > > > If you do automatic online retrieval of stock/dividend transactions, are > > the dividend accounts in GnuCash required to be structured in a specific > > manner? > > > > In the “GnuCash Tutorial and Concepts Guide”, paragraph 9.4.1SetupAccounts > > for Stocks and Mutual Funds, thereis a Note which states: > > “Ifyou want to track income (dividends/interest/capital gains) on > > aper-stock or fund basis, you will need to create > > anIncome:Dividends:STOCKSYMBOL, Income:Cap Gain > > (Long):STOCKSYMBOL,Income:Cap Gain (Short):STOCKSYMBOL and > > Income:Interest:STOCKSYMBOLaccount for each stock you own that pays > > dividends or interest.” > > Isthis sequence of dividend account levels a hard-coded requirement > > forretrieving dividend transaction information automatically...oris it > > merely a recommendation toillustrate how you can track dividends? > > > > I have someidentical stocks which are held in different accounts. For > > example,I hold some of the same stocks in my Traditional IRA account, my > > RothIRA account and also in my non-IRA brokerage account. Thus, I > > oftenreceive dividends from a given stock in all three accounts. > > > > If I set up accountsfollowing the above example and connect to the > > brokerage firm toretrieve transaction information in the background, it > > appears thatGnuCash would record all of my IRA and non-IRA dividends into > > asingle account. > > > > On the other hand,if I need to record dividend transactions manually, I > > think I wouldhave have my accounts something like this: > > > > - Income:Dividends:Brokerage:AMZN > > - Income:Dividends:Trad_IRA:AMZN > > - Income:Dividends:Roth_IRA:AMZN > > > > This would allow meto keep track of taxable and non-taxable dividends > > separately. > > > > Thanks in advance for clarification on this aspect! > > > You need only follow a particular way of recording dividends if you use the > Advanced Portfolio Report and that's what the guidance in the T&CG is for. > Otherwise any way that makes sense to you is fine. > > If the imported transaction descriptions indicate in some way which stock > account sourced the dividend then you'll be able to train the import matcher > to send them to the right account. If not and you use some other way (perhaps > by knowing that you have different numbers of AMZN shares in each account and > so being able to distinguish them by the amount of the dividend) then you'll > have to reassign them manually either in the matcher or by changing the > transfer account from the register. > > Regards, > John Ralls > > > _______________________________________________ gnucash-user mailing list gnucash-user@gnucash.org To update your subscription preferences or to unsubscribe: https://lists.gnucash.org/mailman/listinfo/gnucash-user If you are using Nabble or Gmane, please see https://wiki.gnucash.org/wiki/Mailing_Lists for more information. ----- Please remember to CC this list on all your replies. You can do this by using Reply-To-List or Reply-All. _______________________________________________ gnucash-user mailing list gnucash-user@gnucash.org To update your subscription preferences or to unsubscribe: https://lists.gnucash.org/mailman/listinfo/gnucash-user If you are using Nabble or Gmane, please see https://wiki.gnucash.org/wiki/Mailing_Lists for more information. ----- Please remember to CC this list on all your replies. You can do this by using Reply-To-List or Reply-All.
