An account that represents a partner's equity in a partnership. Members of an LLC also have capital accounts if the LLC is classified as a partnership for US federal income tax purposes. Partnerships and LLCs generally maintain capital accounts for partners or members to comply with detailed tax accounting rules under relevant Treasury Regulations.

For more information on capital accounts, see Standard Document, LLC Agreement: (Multi-Member, Board-Managed) (Private Equity Buyout): Capital Accounts and Article, Understanding Partnership Target Capital Accounts.