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If lease is discounted for one time payment can that income be amortized for tax purposes over life of lease?
Wiki User
∙ 7y ago
This will depend on your accounting method that you use. If you are a cash basis business, then it is recognized when lease payments are received. If accrual, you could justify amortizing the payment but I cannot imagine why you would want to. I am assuming you are lessor in your question and not the lessee. If you are the one leasing the property, you cannot take a deduction for a lease payment you did not make.
Wiki User
∙ 7y ago
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