2024 Luxury Auto Depreciation Limits. $12,400 for the first year without bonus. The tax code limits depreciation deductions for passenger automobiles, such as cars, light trucks, and light vans.
Luxury passenger car depreciation caps. Limits on depreciation deductions for passenger autos.
The Tax Law Limits The Amount You Can Deduct For Depreciation Of Your Car, Truck Or Van.
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The luxury car depreciation caps for a passenger car placed in service in 2024 limit annual depreciation deductions to:
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Limits On Depreciation Deductions For Passenger Autos.
For passenger autos placed in service in 2023, the maximum luxury auto depreciation deductions are:
The Luxury Car Depreciation Caps For A Sport Utility Vehicle, Truck, Or Van Placed In Service In 2024 Are:
The tax code limits depreciation deductions for passenger automobiles, such as cars, light trucks, and light vans.