Q1: I'd call this (sing my categories) a $10,000 Miscellaneous : Deposit /
Credit Expense, then a $20,000 split of a ($10,000) Miscellaneous : Deposit
/ Credit "Expense" (Money may whine--you can tell it to get over it) and a
$10,000 Other Income : Rebates and Miscellaneous. This may even be something
like Investment Income: Short Term Capital Gain or something similar.

Q2) Depends on the asset and you can call it whatever Income category you
want, but best to keep track, via memo or judicious category use or whatever
works for you, of these cases for tax records purposes.

"maj" <maj[at]discussions.microsoft.com> wrote in message
news:CEC06098-3F81-4221-A460-42B38CFD6B2E[at]microsoft.com...
- quote -

Qestion 1: I put down a deposit for a home $10,000 and thus had the right to
buy it. I then sold this right to buy for $20,000 to someone else. I never
took out a mortgage or even signed any closing papers. Anyone have any
suggestions on how to record this two transactions?

Question 2. In general how do you code gains from an asset sale... is it
simply other income?