RMWalter
Level 1
05-11-2023
10:23 PM
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How do I enter a leased vehicle in S Corp into ProSeries?
Labels
Level 15
05-12-2023
10:13 AM
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ABC is asking because a capitalized lease is like a loan with the asset on the balance sheet, and if not a capitalized lease you just list it as an operational expense, and the vehicle will not show up on the balance sheet.
abctax55
Level 15
05-12-2023
01:09 PM
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That's true Jeff.... but I keep trying anyway.
Or I could do the Laura approach & say "if you are a tax pro, you'd know that". But I don't want to be snarky 😉
HumanKind... Be Both
TaxGuyBill
Level 15
05-12-2023
03:16 PM
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There is no vehicle worksheet like there is on the 1040.
So you can enter the vehicle expenses on the "other" line (on that "other expense" worksheet, that is a line for automobile expenses). The lease itself you could also put there, or put it under "rent" on page 1 of the 1120-S