Section 179 Vehicle List 2024

Section 179 Vehicle List 2024. Will section 179 go away in 2024? For the 2024 tax year, section 179 allows for a maximum depreciation of $30,500 for “heavy” vehicles in the current tax year, provided the vehicle is bought and put into service before.

The section 179 deduction is a full, current year deduction for the cost of property placed in service, subject to limitations. Special rules apply to a deduction of qualified section 179 real property that is placed in service by you in tax years beginning before 2016 and disallowed because of the business income limit.