Morgans wrote:

"Matt Whiting" wrote


I assume you are talking income from the income statement perspective.
How much did your property increase in value last year? As a sole
proprietor, you have to include you balance sheet as well. :-)
Changes in owner's equity is an important source of "income" as well.


While this is certainly true from an accounting standpoint, it is not income
that can be put in a gas tank, and burned! g

Not in the year in which it was earned, but when you sell the capital
asset, the income is very real. :-)

Matt