In 2008, if a car with a fair market value in excess of approximately $18,500 is leased ($19,000 for trucks), you must add back an additional amount (i.e., subtract it from your otherwise deductible amount) to offset a portion of the lease payments. This rule was enacted to prevent individuals from avoiding the luxury car depreciation limits that apply to purchased vehicles. The amounts that must be added into your income are called "inclusion amounts" and are taken from a price-based table issued annually by the IRS.
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Downloads:
inclusion amount tables for trucks leased in 2008
inclusion amount tables for trucks leased in 2007
inclusion amount tables for cars leased in 2008
inclusion amount tables for cars leased in 2007
inclusion amount tables for trucks leased in 2006
inclusion amount tables for cars leased in 2006
inclusion amount tables for trucks leased in 2005
inclusion amount tables for cars leased in 2005
inclusion amount tables for trucks leased in 2004
inclusion amount tables for cars leased in 2004
More information:
Annual Lease Value Method