Trish entered into a 36-month lease of an automobile on January 1. She uses it 90 percent
Question:
a. What is Trish's deduction for the lease payments made during the year?
b. What is the lease inclusion amount that Trish must include in her gross income this year?
c. How would your answer to (b) change if the fair market value of the automobile was only $15,000?
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Related Book For
Taxation For Decision Makers 2014
ISBN: 9781118654545
6th Edition
Authors: Shirley Dennis Escoffier, Karen Fortin
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