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Can I include loan interest in the cost basis of the sale of business property

With the sale of business property do I include the loan interest in the cost basis?
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2 Replies

Can I include loan interest in the cost basis of the sale of business property

no. if this is business property the business should deduct the interest as an expense.  if you haven't been deducting the interest each year. run to a tax pro. 

Can I include loan interest in the cost basis of the sale of business property

Also if you have not been depreciating the asset correctly you need to RUN to a local tax pro to get this corrected as well. 

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