Question
On January l, Grace leases and places into service an automobile with a FMV of $38,000. The business use of the automobile is 60%. The
On January l, Grace leases and places into service an automobile with a FMV of $38,000. The business use of the automobile is 60%. The "inclusion amount" for the initial year of the lease from the IRS tables is $40. The annual lease payments are $8,000. What are the tax consequences of this lease?
| deduction for lease payments of $4,776 | ||
| deduction for lease payments of $4,800 | ||
| deduction for lease payments of $4,760 | ||
| deduction for lease payment of $1,896 |
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Linguistic Auditing
Authors: Nigel Reeves, Colin Wright
1st Edition
1853593281, 978-1853593284
