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Ask A CPA - 2016 Auto Depreciation Limits

Automobile Depreciation Limit

For passenger automobiles (other than trucks or vans) placed in service during calendar year 2016, the depreciation limit under Sec. 280F(d)(7) is $3,160 plus $8,000 first year special allowance = $11,160. For passenger automobiles (other than trucks or vans) placed in service during calendar year 2016, the depreciation limit under Sec. 280F(d)(7) is $3,560 plus $8,000 first year special allowance = $11,560 for the first tax year,

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