Maximum Depreciation for Truck over 6,000 lb in 2018. - Spidell

Maximum Depreciation for Truck over 6,000 lb in 2018.

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Message Board Maximum Depreciation for Truck over 6,000 lb in 2018.

This topic contains 1 reply, has 2 voices, and was last updated by Renee Rodda 1 week, 4 days ago.

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  • #179232
    Timothy Lee
    Participant

    Client purchased new Ford F150 for $70,000. in August 2018 for 100% business use. Can he deduct the entire $70,000. as bonus depreciation?

  • #179600
    Renee Rodda
    Participant

    The TCJA provides for full and immediate expensing of 100% of the cost of qualified property acquired and placed in service after September 27, 2017, and before January 1, 2023, as bonus depreciation. (TCJA §13201; IRC §168(k)) Vehicles over 6,000 pounds qualify for this treatment.