Under ASPE, when a sale leaseback qualifies as a capital lease, any gain or loss should always be amortized over the term over which depreciation is taken.

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Under ASPE, when a sale leaseback transaction qualifies as a capital lease, any gain (but not a loss) should be deferred and amortized over the lease term. Losses, on the other hand, should be recognized immediately if the transaction is at fair value; if not, the loss is deferred and amortized in the same manner as gains.

Under ASPE, When a Sale Leaseback Qualifies as a Capital