In article ,
Jim wrote:

How do you treat the one time initial expenses of buying an airplane, such
as pre-purchase inspections and needed repairs, sales taxes, acquisition
costs, legal and cpa fees? Do you consider them part of each co-owners
capital account

Just look at it from the perspective of a buyer (either for the entire
plane or a share). I would expect that the new buyer would only be
interested in the market value of the plane, not the expenses you incurred.
For example, if you bought a plane with a prepurchase inspection and
paid sales tax on it and *immediately* sold it, is it worth more money?
No? Then those were expenses.

--
Ben Jackson

http://www.ben.com/