For ease of reference, the following schedule provides the daily inclusion amount under the annual lease value table.
Value of Demonstration Automobile Daily Inclusion Amount
$0 – 2,999 $3
$3,000 – 4,999 $4
$5,000 – 5,999 $5
$6,000 – 7,999 $6
$8,000 – 8,999 $7
$9,000 – 10,999 $8
$10,000 – 11,999 $9
$12,000 – 12,999 $10
$13,000 – 14,999 $11
$15,000 – 15,999 $12
$16,000 – 17,999 $13
$18,000 – 18,999 $14
$19,000 – 20,999 $15
$21,000 – 21,999 $16
$22,000 – 23,999 $17
$24,000 – 24,999 $18
$25,000 – 25,999 $19
$26,000 – 27,999 $20
$28,000 – 29,999 $21
$30,000 – 31,999 $23
$32,000 – 33,999 $24
$34,000 – 35,999 $25
$36,000 – 37,999 $27
$38,000 – 39,999 $28
$40,000 – 41,999 $29
$42,000 – 43,999 $31
$44,000 – 45,999 $32
$46,000 – 47,999 $34
$48,000 – 49,999 $35
$50,000 – 51,999 $36
$52,000 – 53,999 $38
$54,000 – 55,999 $39
$56,000 – 57,999 $40
$58,000 – 59,999 $42
For vehicles with value in excess of $59,999, the dollar inclusion amount is (.25 x value) + $500, divided by 365, rounded to nearest dollar amount.
Downey & Company specializes in finance, tax and management of automobile dealerships.
For more information or a free proposal, please email Paul McGovern at pmcgovern@downeycocpa.com or call him at 781.849.3100.
