In March 2008, I bought a Toyota Tundra. I just realized yesterday that it has a gross vehicle weight rating of 7,100 pounds, giving me that fabulous SUV/pickup truck Section 179 deduction. How long do I have to keep this truck to utilize that deduction for 2008? (J.R., Woodlands, Tex.)
Before getting to your answer, let us clarify two technical points:
The Section 179 deduction for an SUV is limited to $25,000, whereas the 2008 limit on a ... Log in to view full article.