Ronald W. Stokes, CPA, PC

850 Corporate Parkway, Suite 120, Birmingham, AL 35242 205-437-0131; rwstokes@rwscpa.com

2017 Car & Truck Depreciation Limits

2015-subaru-impreza-sedan-and-hatchback-1First Year Limits

For passenger automobiles (other than trucks or vans) placed in service during calendar year 2017, the depreciation limit is $11,160 for the first tax year, including bonus depreciation, and $3,160 if bonus depreciation does not apply.

For trucks and vans, the limit is $11,560 for the first tax year if bonus depreciation applies and $3,560 if it does not apply.

Limits After First Year

For passenger automobiles, the limits are $5,100 for the second tax year, $3,050 for the third tax year, and $1,875 for each successive tax year.

For trucks and vans, the limits are $5,700 for the second tax year, $3,450 for the third tax year, and $2,075 for each successive tax year.

 

Sec. 280F (Rev. Proc. 2017-29 (https://www.irs.goc/pub/irs-drop/rp-17-29.pdf))

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

Information

This entry was posted on March 28, 2017 by .
%d bloggers like this: