What is vehicle basis and where do I find it?

For most people, the cost basis of their vehicle is the amount they paid for it.  If you have previously used your vehicle for business and taken depreciation on the vehicle then your basis would be the cost less the depreciation.  Your basis could also be affected by making improvements (not repairs) to your vehicle.  For example:  If you bought a used vehicle and had to replace the transmission shortly after buying it, your basis would be the amount you paid for it plus the cost of the new transmission.  If it is a business vehicle then you would find the basis in the asset and depreciation reports for the business.