lease payments OTR truck

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  • steve1245
    Junior Member
    • Jun 2007
    • 13

    #1

    lease payments OTR truck

    How do you deduct lease to purchase payment on over the road truck?
    Depreciation 3 years?
  • JG EA
    Senior Member
    • Jul 2005
    • 2176

    #2
    You are right you depreciate if not a true lease. 3 years for Tractor Units for Use Over-The-Road, 5 years for Trailers and Trailer-Mounted Containers. (Page 97 Pub 946). But also see page 103 - may be that kind of 5 year truck.
    JG

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