Which of the following statements regarding leases and taxes is false?
A) In a non-tax lease, the lessee can deduct the interest portion of the lease payments as an interest expense.
B) In a true tax lease, the lease payments are treated as revenue for the lessor.
C) In a true tax lease, the lessee receives the depreciation deductions associated with the ownership of the asset.
D) The IRS separates leases into two broad categories: true tax leases and non-tax leases.

Question

Quizplus · Accepted Answer

C) In a true tax lease, the lessor receives the depreciation deductions associated with the ownership of the asset.

Which of the Following Statements Regarding Leases and Taxes Is