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Daycare and Taxes>Lease or Own?
My Daycare 12:35 PM 02-01-2012
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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Blackcat31 01:13 PM 02-01-2012
you are the owner (of the loan and the car )
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TomCopeland 07:23 PM 02-01-2012
You own the car. You haven't fully paid for it, but you own it.
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