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Daycare and Taxes All things related to Taxes and running a Daycare post here. Topics of tax exemptions, forms, filings, tax write offs, IRS etc.

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Old 02-01-2012, 12:35 PM
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Default Lease or Own?

Hi, I have a dumb question here.

I financed my car, which to me means that I will own it when I am done paying for it.

Turbotax is asking me if I lease or own it.

My understanding of lease is to pay monthly for the car, but return it when your time is up. Own is to not own anything on the car and it's yours.

If I financed my car, which box should I check, lease or own?????
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Old 02-01-2012, 01:13 PM
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you are the owner (of the loan and the car )
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Old 02-01-2012, 07:23 PM
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Default car loan

You own the car. You haven't fully paid for it, but you own it.
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