If I share an asset with someone else and we both have 50%, I want that to be reflected in my portfolio.
It should possible to set it on Asset, Account and Position levels. It would behave and be presented the same as Regions and Sectors.
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This is the feature that I lack in all apps, including Capitally.
I have a Joint Account with my spouse in Interactive Brokers and we split the tax, filling two PIT-38 declarations.
I would consider switching to Capitally, if it allowed me to produce two tax reports, one for each asset co-owner.
Best,
Adam
The tax tangent is interesting, haven’t thought about it.
One important bit in such a case is to have ownership assigned to all positions.
As far as brokerage or bank accounts are concerned, ownership is defined per account, so the implementation in Capitally and UI may be simpler than with having ownership assigned to each position.
I know people who invest in the name of others, so would like to have that per position, even as splits (eg. 50/50).
It’s not a problem though, as the current taxonomy system handles that pretty well (eg. Sectors and Regions).
As for assignment, actually the default could be just “Me” on everything. The only special handling required is to ensure that taxes are properly accounting for fractions of ownership.
Btw, if you only need to define the ownership per account and there’s a single owner per account - you can do it right away!
Just use tags - they can be set per account, asset, position or transaction.
Then you create two filters, like “Mine” & “Hers” and you can use them to filter the Taxes report (or any part of the UI, even dashboard).
I recommend creating the tag as “Ownership/Mine”. The “/” will create a “Ownership” folder where you can check the allocation.
Would that solve it?
Unfortunately not. I have a joint account in IBKR (Joint Tenants with Rights of Survivorship), with two owners: my wife and myself. Great to secure your family, but taxes have to be split 50/50.
Interesting, I thought that inheritance would take care of that?
Actually, there’s a way to do taxes for such accounts right now:
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You set up the Ownership tags as in my example, but you add one more -
Ownership/Joint- and set it for IBKR -
You modify the tax preset for your country. If
tags is Ownership/Jointthen you divide both Expense and Revenue by 2. Taxes are calculated per each transaction, so you basically split them into two:
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You create two portfolio filters, Mine & Hers. Mine should include Me & Joint, Hers should include Her & Joint
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Now in the tax report you select either of these filters. The tax will be calculated as 100% for assets held on single-owner account + 50% on the joint account.
The only thing that is not covered, is that if you browse the whole portfolio, only 50% of tax will be included for the joint account, but I think it’s much better than nothing 
And I of course still plan to implement the taxonomies in the future
Actually, you don’t even need a “Joint”
And another alternative is to just have a separate tax preset for IBKR that just divides Expense and Revenue by 2.
Interesting, I thought that inheritance would take care of that?
It may take months to settle inheritance formalities and transfer an account. If the family lives from capital gains that may matter.
Actually, there’s a way to do taxes for such accounts right now: (…)
Nice! I will test it. Thank you, Rafał!
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I’ve tested the solution above and the tax is incorrectly calculated for dividends. I believe we also need to be able to divide “Tax Paid” by 2, but the app does not allow to select this field in the “Set” operation.
It doesn’t work only because of tax paid?
Wouldn’t it be enough that you divide the final number yourself? You report both paid and due separately and they don’t rely on each other.
As you will have a mix of both you can export the result to CSV and do the final rollup in excel
It may be the only thing left for the joint accounts support, but can’t say for sure, due to multiple differences in tax calculations that obscure the picture. I am reporting what I can identity.
I have dividends coming from individual and joint accounts. Aggregation of these, with regards to tax calculations, is the feature that I am specifically looking for in the app.