How do I enter a leased vehicle in S Corp into ProSeries

[RMWalter]

How do I enter a leased vehicle in S Corp into ProSeries?

[abctax55]

Is it a capitalized lease?

[Terry53029]

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]

Terry.... I was trying to 'teach the OP to fish' instead of just giving him the fish 😉

[IRonMaN]

But the fish never really bite here so it’s kinda hard to teach a fishing class in this place😁

[abctax55]

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 😉

[TaxGuyBill]

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