LeonardS
Expert Alumni

Get your taxes done using TurboTax

You do not own the car until you actually purchase it at the end of your lease, if you sell the car within the first year that would be short capital gain.  

 

  • Your purchase date is when you purchased the car at the end of the lease.
  • The selling date is when you sold the car
  • Your cost basis is your down payment and lease payments less and sales tax paid.

 

 

 

 

 

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