Deductions & credits

No business use.  The Blue Book value of the auto is nearly 8K higher than the residual, and my son needed a vehicle, so it appeared to be a win/win.  I do want to check with the DMV as I need clarification regarding the sales tax.  Concern is that I would pay a sales tax when I bought the car from the lessor and then my son would have to pay a sales tax when he purchased it from me.