food for thought -
the lease payments were predicated on a presumed residual. Had the lessor known the car would be worth a lot more at the end of the lease, they would not have had to charge as much in lease payments.
why isn't 75% of the $8,000 taxable income as the lease payments would have been resulted in $6,000 less in expenses over time had the residual been known at the beginning of the lease? The $6,000 just claws back what had been expensed over time
The last $2000 just reduced the personal expense that occuted over time. Neither the expense or this one time payment of $2000 was taxable expense or income, so no inpact on the tax return.
Again, just a thought... is it this simple?
