A friend owns a landscaping business and wants a large piece of equipment like a bulldozer attachment. I was considering financing it for him, but he proposed that I just buy the equipment myself and lease it to him. It seems then I could claim depreciation on the equipment against the rental income that he would pay me. If we pursued this could the rental income be entered in turbo tax under rental property like my house rental? or would I have to declare separate business income or something?
thanks
