Tax (first in, last out)

[Dave5555]

Living in Spain, I pretty much have to follow the first in, first system. according to my tax man there is no wiggle room, that is just how it is!!

Am I right in thinking, tradeing212 calculate it differently? Is there a way to adjust it to calculate on first in, first out.

at the moment,
Not only are the profit/loss numbers next to each stock irrelevant now, as a result the overall profit /loss for the year is also wrong…
so, If i have to do first in first out, I now have to calculate it all manually to get the correct figure I believe?

Unless I am doing this alllll wrong, I dont understand why trading212 are deviating from the standard tax process complicating it for everyone.
I mean is there a way to set up everything to first in, first out???

[Dougal1984]

Have to say I have heard of first in first out, not first in last out.

I’m fairly certain FIFO and AVCO are the two most common. Could you automate it with your trade history in a spreadsheet?

[Dave5555]

sorry I meant, first in , first out
it has been a loooong week

[RLX]

Que tal?

The Portuguese National Tax Authorities also uses the FIFO method, (first in, first out), but T212 does the averaging cost method.

So the profit/loss calculations from T212 are “different” from what the some Tax Authorities do.

@Dougal1984

Could you automate it with your trade history in a spreadsheet?

That’s my way to solve this question. But Excel for me is like paper and pen. (It’s my Mac Gyver Swiss Army knife.)

[Dave5555]

this was my point, I just tried a spreadsheet and trading info still wrong, so will have do it alone

thanks for the input

[Dougal1984]

Ah ok, FIFO is fairly straight forward then. This is probably where this community could shine.

If someone created a specific thread for say tax reporting requirements for each jurisdiction, I’m sure there are some smart people that could build some free tools to use to help - Google Sheets would probably be the best start as available to both Mac/PC users.

It probably wouldn’t take me long to mock something up when I find time. I already have something that does AVCO.

It doesn’t factor in say stock split events, haven’t seen any on my portfolio yet to work that one out.

[Dave5555]

@Dougal1984

Could you automate it with your trade history in a spreadsheet?

how do i automate it with a spreadsheet? I am not sure how to do this!! help me,

[Dougal1984]

Google Sheets Portfolio Tracker

Afternoon all, Thought I would share a thread on this. I have built a new portfolio tracker using the exportable data from the 212 app in Google Sheets, however I am still tweaking some of the setup. *** Edit - current version *** *** / Edit *** High level, this currently works like the following 0. Setup - Basic setup parameters, mapping of 212 export tickers to GoogleFinance ticker codes, and the base currency of your portfolio to report in. 1. 212 Trade Export 2. 212 Holdings - a ta…

This works on AVCO.

For FIFO, or LIFO, I guess you start by placing all your buys on a page, filtering out your sales, and then matching them up on a first come basis.

I might look at it later and share something after a pint. Give me a bit.

[RLX]

@Dave5555

how do i automate it with a spreadsheet?

You could do it through 2 ways. Putting yourself each transaction or using the CSV Export file.

I use the painful way with some formulas, no hard core automation that is more prone to errors (a kind of black box).

The Average Price from T212 only poses a problem if you sell part of positions in different years. If you sell all positions in these same operation or during the same year, there is no question.