[GNC] Example of accounts for a personal residence with entries for US tax basis

[Derek Atkins]

The way I do it personally (note: IANAA) is that I have an Assets:Fixed
Assets:<House Address> account with subaccounts for, e.g. Purchase,
Renovations, etc.

That way I account for improvements that change the basis, and the summed
balance of A:FA:<HA> is my current basis.

-derek


On Tue, July 12, 2022 8:38 am, Tom Browder wrote:
> I have looked at several accounting books and websites for an example of
> accounting for an owner's personal residence and US fedral tax treatment
> for improvements contributing to basis, but I haven't yet found a recipe
> suitable for my lame level of bookkeeping knowledge.
>
> Can anyone point to such an example?  The Gnucash docs do a good job for
> business applications, and I will try to adapt that to my case, but a
> better example for one's personal residence would be much appreciated.
>
> Best regards,
>
> -Tom
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-- 
       Derek Atkins                 617-623-3745
       derek at ihtfp.com             www.ihtfp.com
       Computer and Internet Security Consultant