I'm working on tracking asset values, costs, capital gains, and such, in GnuCash. Specifically for my house (primary residence). I've sold one house, and own a second. I have created some accounts for this:
Assets:Fixed assets:House1 Assets:Fixed assets:House2 Liabilities:Mortgage Income:Capital Gains:House Expenses:Asset Purchase Expenses:Asset Sell I had thought that the Assets:Fixed assets:House would reflect the value of the house. But after putting the purchase price of the house, and then adding the costs to purchase (recording fees, appraisal, etc), I conclude that the House account actually reflects the total cost of the house, and not necessarily its value. First question: is that a correct view of the Assets:Fixed assets:House1 account? Since I've sold that house, I can add the costs-to-sell to the basis of that house, and from there, calculate capital gains. And it's this that leads me to think that the House1 asset account reflects the cost of the house, and not the value of the house. Regards, MW _______________________________________________ gnucash-user mailing list [email protected] To update your subscription preferences or to unsubscribe: https://lists.gnucash.org/mailman/listinfo/gnucash-user If you are using Nabble or Gmane, please see https://wiki.gnucash.org/wiki/Mailing_Lists for more information. ----- Please remember to CC this list on all your replies. You can do this by using Reply-To-List or Reply-All.
