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New Member
posted Jun 6, 2019 8:02:53 AM

I sold my business this year. I started it from scratch 10 years ago. How do I calculate the cost basis?

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1 Best answer
Level 15
Jun 6, 2019 8:02:54 AM

From your own records. Your cost basis is all the money you put into the business, less the amounts you previously deducted on schedule C, over those 10 years.

3 Replies
Level 15
Jun 6, 2019 8:02:54 AM

From your own records. Your cost basis is all the money you put into the business, less the amounts you previously deducted on schedule C, over those 10 years.

New Member
Jun 6, 2019 8:02:56 AM

I have used QB for the last 10 years for that business. Is there a report/line that would show me that number? Thank you.

Level 1
Jun 6, 2019 8:02:57 AM

Thank you for reaching out to us @annemarie. Please contact QuickBooks support or take a look at the QuickBooks tutorial page:
<a rel="nofollow" target="_blank" href="https://community.intuit.com/products/quickbooks-help-en-us">https://community.intuit.com/products/quickbooks-help-en-us</a>
<a rel="nofollow" target="_blank" href="https://quickbooks.intuit.com/tutorials/">https://quickbooks.intuit.com/tutorials/</a>