Suggestions

:speech_balloon:

Take home improvements into account for capital gains calculation

Allow adding an expense of type “home improvement” or maybe a generic “cost basis increase” type of expense, if “home improvement” is too specific?, that would apply to a real estate asset and increase the cost basis of a real asset. For example, a house cost $500,000 in 2010 and improvements were made for $100,000 in 2020. In 2030, it will sell for $700,000 so its cost basis should be $600,000 and capital gains should be $100,000 instead of $200,000.

Something similar could be achieved by letting users change the Purchase Price in the plan settings, but right now that can’t be done because the asset’s price is hard-linked to the asset in Current Finances.

I think the expense approach is cleaner.

Thank you!!

3 votes

Tagged as Suggestion

Suggested 31 May by user Valantur

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  • 31 May Valantur suggested this task

  • 31 May Kyle Nolan approved this task

  • avatar

    in addition to increasing the cost basis, would be nice to be able to increase the value of the asset, all in the same one-time expense for “home improvement”

    26 June