Since there is not many options for detailing how you arrived at your basis, it is a good idea to keep notes regarding how you calculated it.
Where to enter/edit Sale of Business Property
- Income and Expense
- Sale of Business Property
- Select Sales of Business or Rental Property that you haven't already reported
- Choose No to the question, "Do all of the following apply to the property you sold?".
- Choose Yes to the following screen that asks, "Do any of the following descriptions apply to the items you sold?".
- Select the type of property from the drop down box.
- Enter the information for your sale.
