To record disposal of an Alternative Asset, select the ASSETS tab, then click the ASSET DISPOSAL button, select the Account, and choose the Asset.
If you choose an Alternative Asset for disposal, Mclowd™will display this screen:
Click DISPOSE OF ASSET to save.
You may incur expenses in the disposal of an alternative asset, such as agent fees and commissions, marketing costs, and legal fees.
As Capital Gains Tax is calculated on net yield, the figure you enter as the sale price should be the net yield after all costs are deducted (i.e. the amount deposited to your bank by your conveyancer), but you should retain documents detailing expenses in your files for audit purposes.
