Posted 12/7/2018 12:12 (#7155398 - in reply to #7154836) Subject: RE: Trade off Paid for tractor to apply toward lease payments?
I was always told to never put any cash into a lease in case you want to walk away at
the end of the lease. The higher the residual value the better.
Tax wise you are selling an asset whether you lease or purchase. New tax law for 2018.
No like kind exchanges of farm equipment.
Your tax advisor should advise you on how the lease payments you are prepaying will be deducted.
Trade off Paid for tractor to apply toward lease payments?
