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For passenger automobiles, and light duty trucks and vans, placed in service during calendar year 2018, the depreciation limit is $10,000 for the first tax year, plus an additional $8,000 if bonus depreciation is elected.
For passenger automobiles and light duty trucks and vans, the limits are $16,000 for the second tax year, $9,600 for the third tax year, and $5,760 for each successive tax year.
SUVs, trucks and vans with a gross vehicle weight rating above 6,000 lbs. are not subject to depreciation limits. They are, however, limited to a $25,000 IRC §179 deduction. IRC § 179(b)(5)(A). No depreciation or §179 limits apply to SUVs with a GVW more than 14,000 lbs. Trucks and vans with a GVW rating above 6,000 lbs. but not more than 14,000 lbs. generally have the same limits: no depreciation limitation, but a $25,000 IRC §179 deduction. These vehicles, however, are not subject to the §179 $25,000 limit if any of the following exceptions apply: