The IRS does not interpret the tax code uniformly, although they are supposed to. Please do not consider this expert advise. The operative word in lease end purchases is "option". If the asset can be returned to the lessor with no further obligation excepting unusual wear and tear, the lessee will usually not have to depreciate the asset. This has been the rule in automotive and truck leasing for many years.
As I said at the beginning, different IRS offices may not take the same approach with equipment leasing in some or all areas. They should because a truck is as much a business tool as a lathe. Once again, a local CPA should know what the IRS is doing in your area.
Vern |