Cap Gains - determining which source - buy/sell stock vs mutual fund generated gains
Ps56k2
Quicken Windows Subscription Alumni ✭✭✭✭
One thing that haunts me at tax time - is Cap Gains -
I would like to determine how much is getting generated from my stock buy/sell vs the less common gains generated directly from mutual funds.
I was thinking of going back thru my various FI and look for the buy/sell entries and add a "tag" and then report on that tag to see how much Cap Gains are self inflicted.
Even though the Cap Gains are taxed at the nice & lower tax rate, at least I would know the source.
0
Comments
-
So you want to make the determination along the line so of cap gains from "stock" I've sold vs cap gains from mutual funds I've sold? Ignoring _LTCapGnDst and _STCapGnDst Categories?It seems like the "Type" options in the Capital Gains would make that distinction for you.
0 -
it's a rabbit hole - it appears the Report --> Investments --> Cap Gains
is really only showing Buy/Sell type transactions
and not the other subtle Sh/Lg Cap Gains assoc with mutual funds.SO... I went with the Investments --> Transactions to see all the entries ... and review the totals displays.
0 -
Seems to me the Tax Summary report would be helpful. That (for me) lists separately LT CapGnDst, ST CapGnDst, and Realized Gain. The first two would be 'generated by MF'; the latter 'self-inflicted'.1
-
If you run the Investment Transactions report and subtotal by Category, you should see separate sections for _LT CapGnDist, _ST CapGnDist, and _RlzdGain.
The CapGnDist Categories are the capital gain distributions from your funds and the RlzdGain is from the gains/losses on your sales.
Is this what you are looking for?QWin Premier subscription0 -
my "shorts" are not showing up in Short Term Gains and Losses - but the "longs" from the end of year MF.. are showing up.q_lurker said:Seems to me the Tax Summary report would be helpful. That (for me) lists separately LT CapGnDst, ST CapGnDst, and Realized Gain.
0 -
Jim_Harman said:If you run the Investment Transactions report and subtotal by Category, you should see separate sections for _LT CapGnDist, _ST CapGnDist, and _RlzdGain.
The CapGnDist Categories are the capital gain distributions from your funds and the RlzdGain is from the gains/losses on your sales.That's kinda what I've been starting to do -
create that overall everything report - and then UN-check the accounts and other stuff to whittle it down....It was just that the Reports --> Investments --> "Cap Gains" report wasn't showing these transactions.
And the Tax Planner (2020) wasn't showing the shorts..... so everywhere I looked for the easy click and show was not working as expected.Just trying to match up with the entries on the IRS 8949 - and see where the Cap Gains are getting generated....
Either from large internal turnovers in MF vs the self-inflicted from stock sales.Another reason to look at ETFs vs their underlying MF.... but that's a different forum.0 -
The short term capital gains may be getting recorded as dividend distributions since they are taxed that way.Ps56k2 said:
my "shorts" are not showing up in Short Term Gains and Losses - but the "longs" from the end of year MF.. are showing up.q_lurker said:Seems to me the Tax Summary report would be helpful. That (for me) lists separately LT CapGnDst, ST CapGnDst, and Realized Gain.0 -
"Just trying to match up with the entries on the IRS 8949"Form 8949 only reports "your sales" be they sales of stock or mutual funds.0
-
yeah - I keep tripping over the same things....it really starts back on Sched B- and divs and then Box2a for Cap Gain Distributions... which is what we see from the MF.and like you say @Tom Young - the 8949 is for the "self inflicted" sales....I need to just list everything again in a spreadsheet - which is what I usually do after 1040 time....0
