Automobiles - 2024 Maximum Depreciation Deduction Based on 100% Business Use** |
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Year |
Passenger Autos/ 1st Yr Bonus |
Light Trucks and Vans, SUV's/1st Yr Bonus |
1 | $12,400/$20,400 | $12,400/$20,400 |
2 | $19,800 | $19,800 |
3 | $11,900 | $11,900 |
4 and beyond | $7,160 | $7,160 |
**This limit includes claiming a §179 expense deduction. If the business use is less than 100%, you must reduce the maximum deduction above proportionately. **Vehicles are eligible for 100% bonus depreciation if they are above 6,000 lbs. |