Hello and thank you for using Just Answer,You would not be claiming mileage if you are leasing the use of the truck to him. He would claim expenses of the lease on his tax return.
He can claim teh standard mileage rate for the lease based on the miles he logs for business use.
sorry * the standard
You will show the payments to you as rental
He would still be allowed his deductions and if you do not have a gain on the sale you woudl pay no tax
Yes it would be, he would show the truck on his Schedule C if he is sole proprietor
You are most welcome
Your positive rating is always thanks enough.