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pnguyen1792
Level 1
Jan 20, 2025 11:29 PM UTC
Question

Special Depreciation Allowance

Where on Proseries Tax 2024 can I claim the Maximum Depreciation Deduction for Passenger Automobiles amount of $20,400? 

3 replies

Just-Lisa-Now-
Just-Lisa-Now-Intuit Community Champion
Intuit Community Champion
Jan 21, 2025 1:09 AM UTC

without telling us what type of return youre preparing Im just going to guess 1040, you'll need to set the vehicle up on the Car and Truck Worksheet

♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
    martyramirez
    Level 2
    Jan 21, 2026 1:16 AM UTC

    Special Depreciation Allowance check boxes.

    TaxGuyBill
    Jan 21, 2025 3:29 AM UTC

    As a side note, double check that you want to use Bonus, rather than using 179 and electing OUT of Bonus.

    The weird rules for the depreciation limits can alter the depreciation for years 2 through 6, especially for higher priced vehicles.  It isn't nearly as bad with 60% bonus this year, but I think a lot of people are going to be surprised this year if they used 80% bonus last year on a vehicle that is subject to the depreciation limits.

    And don't forget that $20,400 is based on 100% business use.  The $20,400 is prorated if the business percentage is less than 100%.

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