Accounting For Asset Sales
Submitted by james300@comcast.net on Mon, 07/30/2018 - 17:04If I sell stocks for a gain this year I would enter the amount received as a special receipt taxable at capital gains rate if held over 1 year. However, the value of these stocks at the begining of the year is already entered in "Assets & Savings/Regular Assets/Individual Stocks" The Question is how do I offset this doublebooking of assets? Do I just delete the Jan 1 2018 value of the stocks I sold from the Assets & Savings tab?
Thanks
James