Real Estate Accounting Example — beancount.io

A comprehensive Beancount ledger demonstrating rental property accounting: purchase with mortgage, rental income, depreciation, capital improvements, property sale with depreciation recapture, and tax planning.

Quick Start

bash

make install   # Install beancount + fava via uv
make check     # Verify the ledger has zero errors
make serve     # Open Fava at http://localhost:4740

Scenario

Detail	Value
Property	123 Main St, Anytown, CA 90210 (residential rental)
Purchase	March 15, 2024 for $400,000 (20% down, 7% 30-year mortgage)
Land/Building	$80K / $320K (only building is depreciable)
Rent	$2,400/mo (2024), $2,500/mo (2025)
Property Manager	8% of gross rent
Sale	November 15, 2025 for $435,000

File Guide

File	What it demonstrates
`main.bean`	Entry point — options, plugins, and `include` directives
`accounts.bean`	Commodity definition (PROP123MAIN) and account chart
`prices/2024-2025.bean`	Quarterly property valuations for Fava Holdings view
`transactions/purchase.bean`	Down payment, mortgage, closing costs, security deposit
`transactions/mortgage-payments.bean`	Monthly P&I + escrow, property tax & insurance disbursements
`transactions/rental-income.bean`	Monthly rent, 8% PM fees, rent increase, deposit return
`transactions/operating-expenses.bean`	HVAC repair, plumbing, landscaping, pest control
`transactions/depreciation.bean`	IRS 27.5-year straight-line with mid-month convention
`transactions/capital-improvements.bean`	Water heater + appliances (add to cost basis)
`transactions/sale.bean`	Commission, mortgage payoff, depreciation recapture + LTCG
`transactions/tax-planning.bean`	Year-end and post-sale balance assertions

Key Concepts Demonstrated

Property as commodity — PROP123MAIN enables Fava Holdings view with appreciation tracking
Contra-asset depreciation — AccumDepreciation shows gross cost and write-down on balance sheet
Mid-month convention — half-month depreciation in months of acquisition and disposition
Security deposits as liabilities — not income until forfeited; returned at lease end
Escrow impound account — monthly contributions disbursed for property tax and insurance
Depreciation recapture (§1250) — taxed separately from long-term capital gains at sale
Balance assertions — year-end reconciliation catches data-entry mistakes

Key Numbers

Item	Amount
Monthly depreciation	$969.70 ($320K / 27.5 / 12)
2024 depreciation (9.5 months)	$9,212.15
2025 depreciation (10.5 months)	$10,181.85
Total accumulated depreciation	$19,394.00
Adjusted basis at sale	$386,606.00
Net sale proceeds	$408,900.00
Total gain	$22,294.00
— Depreciation recapture	$19,394.00 (max 25% tax rate)
— Long-term capital gain	$2,900.00 (LTCG tax rates)

Useful Commands

bash

make balances  # Show all account balances
make holdings  # Show holdings with market values
make income    # Show income statement
make check     # Verify ledger integrity

real-estate-example

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