Accounting for Capital Losses

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  • Updated 3 months ago
Superannuation account in Personal Plus 2020
Need to account for Capital Losses due to market downturn with Covid19
Tried Action "Removed" but keeps sending me to Short Sell but this adds to balance not reduces
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Robyn

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Posted 3 months ago

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David Hunt

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Why don't you create an entry with a negative _UnrealisedGain category. Exact form of the category may differ but mine is "_UnrlsdGain". When you run a report on the advanced tab you can filter them out with one tick box "Include Unrealised Gains". This is what I do to depreciate my asset account for Cars that I have, every year or so. The original purchase is transferred in but it dwindles down over the years? If it's a Super account (which I do not use in PP) isn't it booked as just a negative return by repricing the investments?
(Edited)
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Diver Dave

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Robyn, you don't need to "create" a Capital Loss.  Use Portfolio View to see what your un-Realised Gains or Losses are at any point of time.

un-Realiesed Losses are only on paper, and only become "real" if you actually sell any shares.  At June 30 your Fund will look at the Movement in Value over the year.

Hope that helps, but feel free to contact me via email on david.stewart@optusnet.com.au