Hi,
On Tue, July 12, 2022 11:32 am, Tom Browder wrote:
> On Tue, Jul 12, 2022 at 09:38 Michael or Penny Novack <
> stepbystepf...@comcast.net> wrote:
>
[snip]
> Thanks, Michael. Yes, I understand the need for carefully determining,
> according to IRS rules, what is allowed for basis. But I'm not sure of
> what
> you're doing with the things not allowed for basis, e.g., maintenance
> expenses. (Unless you're talking about an invoice which might need to be
> split such as a reroof job plus chimney or dry rot repair.)
I think what I would do is that those are literally Expense categories,
and I would make appropriate accounts for that (e.g. Expenses:Landscaping
or Expenses:Maintenance). If you need, you can split the expenditure
between the Asset (affecting the basis) and the Expense accounts.
>
> -Tom
> Please remember to CC this list on all your replies.
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-derek
--
Derek Atkins 617-623-3745
de...@ihtfp.com www.ihtfp.com
Computer and Internet Security Consultant
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