On Wed, Oct 11, 2017 at 12:38 AM, Metin Akat <[email protected]> wrote: > Of course, for a house I'd have a commodity "HOUSE" as discussed earlier, > but this doesn't really change the whole idea. You can adjust the "house" > and "improvements" accounts in such a way that best makes sense to you. > Don't forget that improvements also depreciate over time (as I have shown > for my car). >
I would definitely account for it that way if it where a rental property, with some changes to my depreciation plugin to account for the IRS-accepted depreciation methods. In this case the house is my primary residence, and so no depreciation is allowed, and if I sell the house with the improvements I get a capital gains exemption for the cost of the improvements, no matter how old they are. I'm not saying this makes sense, I'm just trying to match my account with what the IRS expects. Essentially I'm looking to hide the one-time cost so as not to affect my income statement. Perhaps I should just have an Expense account for it and then write a custom report (or maybe a plugin) to exclude that account from my income statement. And I'm glad my plugin has been helpful to you :). -- You received this message because you are subscribed to the Google Groups "Beancount" group. To unsubscribe from this group and stop receiving emails from it, send an email to [email protected]. To post to this group, send email to [email protected]. To view this discussion on the web visit https://groups.google.com/d/msgid/beancount/CAN3-EDVcWFScPEACAoHCPPtk%3DRTOjKpmJ_1nDU_8XBXkJmKngQ%40mail.gmail.com. For more options, visit https://groups.google.com/d/optout.
