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Employee
June 6, 2019
Solved

How do I calculate interest paid on a leased vehicle that I use for my business?

  • June 6, 2019
  • 1 reply
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Best answer by MinhT1

If you lease a car (instead of having a loan on the car), there is no interest part in the lease amounts that you pay.

If you use the car exclusively for business, you can deduct the full lease payments as a business expense.

1 reply

MinhT1Answer
June 6, 2019

If you lease a car (instead of having a loan on the car), there is no interest part in the lease amounts that you pay.

If you use the car exclusively for business, you can deduct the full lease payments as a business expense.

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KatDesignAuthor
Employee
June 6, 2019
I read that interest is included in the lease payments.