turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

When entering Vehicle Lease Expenses for my business, is it asking for all-time lease payments, or just what I paid in that year?

 
Connect with an expert
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Best answer

Accepted Solutions
JulieCo
New Member

When entering Vehicle Lease Expenses for my business, is it asking for all-time lease payments, or just what I paid in that year?

The Vehicle Lease Expenses would just be the lease expenses paid for that year. (But, if you made up front advance lease payments, those should be allocated over the life of the lease and not deducted all at once.) 

View solution in original post

2 Replies
JulieCo
New Member

When entering Vehicle Lease Expenses for my business, is it asking for all-time lease payments, or just what I paid in that year?

The Vehicle Lease Expenses would just be the lease expenses paid for that year. (But, if you made up front advance lease payments, those should be allocated over the life of the lease and not deducted all at once.) 

dadbrux
New Member

When entering Vehicle Lease Expenses for my business, is it asking for all-time lease payments, or just what I paid in that year?

Thanks.

 

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
Manage cookies