I have a property account called "MyHouse". When I bought the house, I recorded the transfers to it from "MySavings" and "MyMortgage" accounts. Thus, at day 1, the balance of "MyHouse" was purchase price. Every week, I "Check for Updated Zestimate" to add "Market adjustment" types of transactions to update to the latest market value.
Now, I've been spending money to maintain the house. In most cases, they are expenditures from other accounts (e.g., credit cards) where I can record the purpose, and set an appropriate Category, e.g., "Furniture", "LawnCare", etc. Some however, I consider capital expenditures. For example, I installed a new wall-to-wall carpet. Normally, I would simply record this transaction in one of my registers as an debit expenditure, and in this case, set the Category to "Furnishings".
What I'd like to do is also recognize this carpet transaction as a capital expenditure as well as for "Furnishings".
In an ideal case, I'd like to run a Category report which splits out not only by category, but by capital expenditure vs non-capital expenditure.
What's the best practice for doing this?
