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Buying out a lease - 1099-MISC
Hey everyone,
So I bought out a lease in October for vehicle. I financed the balance of the lease with a federal credit union loan. The vehicle is partially used for 1099 contracting work (miles deducted accordingly). Can I deduct the vehicle in another way? Like buying out the lease costs, registration, etc? It is only used roughly 10% for 1099 purposes.
Thank you!
‎February 19, 2020
6:58 AM