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Looking to add sub accounts for assets (i.e. real estate)

nameonit

I own a rental property and have made improvements to it. I want to create sub-accounts for each major improvement so I can clearly track the original purchase price and the additional amounts added to the cost basis for calculating long-term capital gains.

example:

Rental #1 - $175,000

Purchase (05-2019) - $100,000

Pool (01-2020) - $25,000

Fourth Bed addition (06-2024) - $50,000

Instead of:

Rental #1 - $100,000

Rental #1 Pool - $25,000

Rental #1 Fourth Bed addition - $50,000

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Comments

NotACPA

There's no such thing, in Q, as sub-accounts. Look into using Tags.

smayer97

Or create an asset account for each property, then add the changes as individual entries.