Partnership set up

I've been studying AOPA's sample copy of a co-ownership agreement and have a
couple questions to those who are involved in co-ownerships.

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 and therefore part of the valuation of the partnership and
transferable to new partners? Or do you treat them as a one time expense
covered equally by the current co-owners and not to be considered part of
their capital accounts or future valuations?
--
Jim Burns III

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