2024 Bonus Depreciation Amount In Gst

2024 Bonus Depreciation Amount In Gst. For 2023, businesses can take advantage of 80% bonus depreciation. By doing nothing, you’ll automatically claim 60% bonus depreciation on your 2024 tax return for property that you have placed in service during the 2024 tax year.

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 $8,000, for a total maximum deduction on listed property of $20,200. 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”)?