2024 Bonus Depreciation Limit For Car. What are the eligibility requirements for the additional first year depreciation deduction following the enactment of the tax cuts and jobs act of 2017 (“tcja”)? For passenger autos placed in service in 2023, the maximum luxury auto depreciation deductions are:
For vehicles under 6,000 pounds in the tax year. For vehicles placed in service or leased in 2024, there are distinct caps on depreciation deductions,.
