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If you set the Bifurcation Method to:
All for domestic (base currency) securities, Eagle Accounting calculates capital realized gains/losses, and automatically updates the capital realized gain/loss general ledger accounts.
All for foreign (non-base currency) securities, Eagle Accounting calculates capital and currency realized gains/losses. Capital realized gains/losses automatically updates the capital realized gain/loss general ledger accounts; currency realized gains/losses automatically update the currency realized gain/loss general ledger accounts.
No for domestic (base currency) securities, Eagle Accounting calculates capital realized gains/losses, and automatically updates the capital realized gain/loss general ledger accounts.
No for foreign (non-base currency) securities, Eagle Accounting calculates capital and currency realized gains/losses, and automatically updates the capital realized gain/loss general ledger accounts only. Currency realized gain/loss general ledger accounts are not updated.
Section 988. Eagle Accounting determines whether the Processing Security Type of the security is eligible for Section 988 processing, based upon processing security types established in the 988 BIFURCATION code category.
If the security is eligible and is a foreign (non-base currency) security, Eagle Accounting calculates capital and currency realized gains/losses. Eagle Accounting evaluates the currency gain/loss to determine how to post the bifurcated realized gains/losses, which are based on the Section 988 decision tree.
If the security is ineligible and is a foreign (non-base currency) security, Eagle Accounting calculates capital and currency realized gains/losses. Eagle Accounting automatically updates general ledger accounts according to Bifurcation Method No processing.
If the security is a domestic (base currency) security, Eagle Accounting calculates capital realized gain/loss, and automatically updates the capital realized gain/loss general ledger accounts.
The following figure describes how Eagle Accounting uses the Section 988 option during processing.
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