Who should report leased property?
The lessor (leasing company) is the owner and is required to report the property, unless the lessee (person leasing the property) is contractually required to purchase the property at the end of the lease. In that situation, the lessee is considered the owner and would report the property. A $1 purchase option at the end of the lease term is not considered to obligate the lessee to purchase the property.
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