Section 179 Bonus Depreciation 2024 Limit

Section 179 Bonus Depreciation 2024 Limit. 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. The section 179 deduction limit for 2024 was raised to $1,220,000 with a capital purchase limit of $3,050,000.


Section 179 Bonus Depreciation 2024 Limit

In contrast, bonus depreciation is limited to 80 percent for 2023 (60 percent for 2024). It begins to be phased out if 2024 qualified asset additions exceed $3.05.

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