Apply taxes to a whole security account

Hello,
I would like to apply taxes to the whole security account instead of a single ETF that composes this account.

Indeed, this is the real scenario since the taxes I pay are spread on all the securities of which that account is made.

Is this feasible? If so, could you explain how to do it?

Thanks

Taxes are always accounted on deposit account level and you have the option to allocate the security, if required. In your case, you need to book the taxes at the according deposit account and let the security assignment empty.

thank you @Rafa, but how can I differentiate IRR (after taxes) for different security accounts if I link taxes to deposit account?

By doing so I won’t never have an idea of how much taxes affect that specific security account…

Am I wrong?

Well, I don’t know what you’re expecting but as you’ve previously mentioned you don’t want or not able to breakdown the taxes per each security. If you don’t know the rules of this exercise, how PP should know it?

To be honest you need to choose between the evils, less accuracy of IRR after tax or you allocate the taxes upon your assumption.

Hi Rafa,
I don’t know if we are on the same page, let me try to explain what are my expectetions.

I invest a part of my money with an active broker who buys/sells security, but obviously charges taxes (e.g. monthly).

These taxes are not negligible, so I would like to consider them, but it would be innacurate to charge these taxes randomly on the securities that the broker. Actually these taxes are spread on the whole security account.

That would allow for a more accurate comparison between, for instance, that active broker and others or the securities I manage on my own.

Does this make sense to you?

Best

Hi,
sorry if I resume this topic, but I haven’t yet understood how to consider my brokerage account’s taxes for which I pay monthly fees.

That would be really interesting since it would permit a real comparison between the performances of my brokerage account (externally managed) and that I personally managed for which, instead, I don’t have any monthly tax (I just pay fee for each order, so I can easily link it to each transaction).

Regards

Dear Hopper,

first you need to be clear on the terms. Taxes are not fees in PP (or elsewhere).

For each transaction you can record taxes on the transaction as well fees that transaction costs.

If you have fees which do not belong to a certain security PP accepts fees without being bound to a security.

Does this have anything to do with your question?

Hello Harry,
I think you get the point: I want to put fees, not bounded to a specific security/ETF, but bounded to a whole security/brokerage account (since those fees are spread on all the ETFs).

When you said that PP accepts fees without being bound to a security, are you referring to Transactions → Fees?

In that case it is true I can put fees not bounded to a security, but there isn’t either the possibility to link those fees to the security account (just to a cash account). Therefore, I won’t be able to compute the actual performance of my brokerage account.

Am I asking something that does not make sense to you?

Best

Hey Hopper,

Your Last assumption is correct. The general fees are booked and bound to the cash account, not to the security account.
I do not even know if fees bound to a security are also bound to the security account as security accounts cannot hold cash at all. The latter also is the explanation why what you ask for is not possible, at least at first sight.

Take care

Hi Harry, I can’t still figure out how to consider fees of my robo-advisor for which I’ve exploded each securities in a security account, but thank you for your further reply.

Hey Hopper,

fees for a robo-advisor are general fees as they concern all securities handled by that advisor. And it is most likely that one will not find a key as of how to distribute those fees to certain securities.

To add general fees to an account
/Accounts/Deposit Accounts/[account]/[right click]/Fees… or
/Transaction/Fees…

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I really appreciate you trying to solve this, but I still believe that it would make sense to have the possibility to input incurred fees for a security account (not the cash account).

Take this example, I have two different security accounts. One is managed by a robo-advisor and the other by another robo-advisor. They all refer to the same cash account, but they charged different fees (since they have different fee plans).

It is true that those fees are not linked to a specific securities, but it is also true that the fees I pay are different and are bounded to the whole sec. account.

How can I find out which is the most effcient, if I cannot distinguish fees?

You need to change this:

Yeah, Chirlu is right.

“Invent” a cash account and link it to the other roboadvisor.
Keep in mind that the set-up in PP does not necessarily need to reflect the reality. E. g. If you have a physical security account with no physical cash account, or where you use your salery account as connected cash account.

Security account cannot hold cash!