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Deductions & credits
i would say you probably have no taxable income. the residual value at the start of the lease was estimated to be $22K which directly affected the monthly lease payments. had the residual of $30K been used your lease payments would have been lower. so unless you took a business deduction for the lease payments the $8K should be tax-free.
‎June 29, 2022
5:01 PM