2024 Section 179 Limits Vehicles In India

2024 Section 179 Limits Vehicles In India. 2024 updates & current rules for section 179 and bonus depreciation*: While vehicles qualify as section 179 property, they have special limitations.

For vehicles under 6,000 pounds in the tax year 2023, section 179 allows for a maximum deduction of $12,200 and bonus depreciation allows for a maximum of $8,000, for a. The irs sets specific limits on the total cost of.