Deductions & credits

Correct @Carl. Vehicle never used in business, only personal use.

 

Looking at the original paperwork and jargon, it appears the agreement was a "Closed-End Motor Vehicle Lease Agreement" (CA), with a purchase option at the end of lease term.

 

It appears then, my lease payments should not be included in the cost basis, and I will have to owe ~$1760 in capital gains tax. That's unfortunate.

 

Regardless, thank you for the clarification.