Wrong Capital Gain on Short Sales (Money 2007)

This may have been discussed, but I can not find it any more.

I do some futures. So they are long and shorts. Short sale is very common. 
But M-2007 does not calculate capital gain correctly.

Say, I sold one future at $10,000 total notional value, then bought it back 
at $9,900 and made $100. M-2007 somehow has a capital loss of $19,900 or 
something like that.

Is this a known Money error? Thx.
 

0
achang89 (22)
9/3/2009 9:12:10 PM
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Money handles short positions perfectly for me.  I use M2002.  When you 
enter a short position you have to use Short Sell to open and Cover Short to 
close.

Regards

Bill Wood


"Andrew" <achang89@hotmail.com> wrote in message 
news:FFC393DC-78D3-4D26-AA41-FCE0D5CF5325@microsoft.com...
> This may have been discussed, but I can not find it any more.
>
> I do some futures. So they are long and shorts. Short sale is very common. 
> But M-2007 does not calculate capital gain correctly.
>
> Say, I sold one future at $10,000 total notional value, then bought it 
> back at $9,900 and made $100. M-2007 somehow has a capital loss of $19,900 
> or something like that.
>
> Is this a known Money error? Thx.
>
> 


0
nospam7515 (2086)
9/3/2009 9:25:54 PM
In microsoft.public.money, Andrew wrote:

>This may have been discussed, but I can not find it any more.
>
>I do some futures. So they are long and shorts. Short sale is very common. 
>But M-2007 does not calculate capital gain correctly.
>
>Say, I sold one future at $10,000 total notional value, then bought it back 
>at $9,900 and made $100. M-2007 somehow has a capital loss of $19,900 or 
>something like that.

You created a security as a stock, and did ShortSell to open the
position and did a CoverShort to close the position?

I tried that in a test file, and got a $100 gain in the capital gain
report.

>
>Is this a known Money error? Thx.

Not known to me.
0
via_newsgroup (13115)
9/3/2009 9:35:29 PM
That security was created as "other" since M-2007 does not have futures....

"Cal Learner-- MVP" <via_newsgroup@please.tnx> wrote in message 
news:s9d0a5hl03lad1bj00ep0nbag4q6vv35no@4ax.com...
> In microsoft.public.money, Andrew wrote:
>
>>This may have been discussed, but I can not find it any more.
>>
>>I do some futures. So they are long and shorts. Short sale is very common.
>>But M-2007 does not calculate capital gain correctly.
>>
>>Say, I sold one future at $10,000 total notional value, then bought it 
>>back
>>at $9,900 and made $100. M-2007 somehow has a capital loss of $19,900 or
>>something like that.
>
> You created a security as a stock, and did ShortSell to open the
> position and did a CoverShort to close the position?
>
> I tried that in a test file, and got a $100 gain in the capital gain
> report.
>
>>
>>Is this a known Money error? Thx.
>
> Not known to me. 

0
achang89 (22)
9/3/2009 9:46:52 PM
In microsoft.public.money, Andrew wrote:

>That security was created as "other" since M-2007 does not have futures....

It did not show up in capital gains report or TXF file if I used
"other". I suggest you work around this by creating a "stock" and
changing the transactions.


>
>"Cal Learner-- MVP" <via_newsgroup@please.tnx> wrote in message 
>news:s9d0a5hl03lad1bj00ep0nbag4q6vv35no@4ax.com...
>> In microsoft.public.money, Andrew wrote:
>>
>>>This may have been discussed, but I can not find it any more.
>>>
>>>I do some futures. So they are long and shorts. Short sale is very common.
>>>But M-2007 does not calculate capital gain correctly.
>>>
>>>Say, I sold one future at $10,000 total notional value, then bought it 
>>>back
>>>at $9,900 and made $100. M-2007 somehow has a capital loss of $19,900 or
>>>something like that.
>>
>> You created a security as a stock, and did ShortSell to open the
>> position and did a CoverShort to close the position?
>>
>> I tried that in a test file, and got a $100 gain in the capital gain
>> report.
>>
>>>
>>>Is this a known Money error? Thx.
>>
>> Not known to me. 
0
via_newsgroup (13115)
9/3/2009 10:08:08 PM
Andrew wrote:
> This may have been discussed, but I can not find it any more.
> 
> I do some futures. So they are long and shorts. Short sale is very 
> common. But M-2007 does not calculate capital gain correctly.
> 
> Say, I sold one future at $10,000 total notional value, then bought it 
> back at $9,900 and made $100. M-2007 somehow has a capital loss of 
> $19,900 or something like that.
> 
> Is this a known Money error? Thx.
> 
> 

Although my capital gains for short sales are correct, I did notice 
unexpectedly high returns (TR All, etc) as the return calculations 
appear to use the "Cover Short" as the basis, rather than the "Short Sell".

As such, if I short a stock at $100/share and cover it at $50/share, I 
have a $50/share capital gain, but it shows as a 100% return rather than 
a 50% return.

-- 
Scott Tyler
agent_scotty-at-hotmail-dot-com
0
Scott
9/3/2009 10:09:21 PM
"Andrew" <achang89@hotmail.com> wrote in message 
news:FFC393DC-78D3-4D26-AA41-FCE0D5CF5325@microsoft.com...
> This may have been discussed, but I can not find it any more.
>
> I do some futures. So they are long and shorts. Short sale is very common. 
> But M-2007 does not calculate capital gain correctly.
>
> Say, I sold one future at $10,000 total notional value, then bought it 
> back at $9,900 and made $100. M-2007 somehow has a capital loss of $19,900 
> or something like that.
>
> Is this a known Money error? Thx.
>
> 


0
don87109 (87)
9/5/2009 6:39:51 PM
I changed the securities from "other" to "stock" and the capital gains 
calculate correctly. Not sure why.....

"Andrew" <achang89@hotmail.com> wrote in message 
news:FFC393DC-78D3-4D26-AA41-FCE0D5CF5325@microsoft.com...
> This may have been discussed, but I can not find it any more.
>
> I do some futures. So they are long and shorts. Short sale is very common. 
> But M-2007 does not calculate capital gain correctly.
>
> Say, I sold one future at $10,000 total notional value, then bought it 
> back at $9,900 and made $100. M-2007 somehow has a capital loss of $19,900 
> or something like that.
>
> Is this a known Money error? Thx.
>
> 
0
achang89 (22)
9/9/2009 10:33:38 AM
Reply:

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