Auto & Truck Expenses
Leased Auto - Income Inclusion?
If you leased a vehicle for more than 30 days and you deduct the lease charges as opposed to using the standard mileage allowance then you must add to your income a income inclusion amount which is based on a IRS table. IRS pub 463 has the lease tables.
Note If you need professional help with "Auto & Truck Expenses" or have other tax questions, we can help you find a local licensed CPA for a free, no-obligation consultation.