need help setting up transactions for sale of house
J E
joele54 at yahoo.com
Sun Jul 29 03:43:22 EDT 2007
I am trying to set up the accounting for the sale of a house
in GnuCash. I have already received the payment in my checking
account, but I want to account for commisions/fees and also show
the capital gain in a split transaction, but am unsure of how to
do this.
The numbers are:
Checking acct. Deposit: $375000
Sold (2007): $400000
Bought (1987): $150000
Commissions/fees: $ 25000
Net capital gain: $225000
I have tried doing a split transaction, but always wind up with
an Orphan-USD, and totally confused.
I have tried setting up:
Assets:Fixed:House:Cost $150000 (Equity:Opening Balances)
to show the initial purchase, but the balance winds up being:
- $150000. Any help would be greatly appreciated.
TIA.
J. Estes
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