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2015 Luxury Auto Depreciation Limits, Tables and Explanations

The tax law limits the amount you can deduct for depreciation of your car, truck or van. The section 179 deduction is also are treated as depreciation for purposes of these limits. The maximum amount you can deduct each year depends on the year you place the car in service. The 2015 luxury vehicle tables appear below.1 The tables show

 

·

limitations on depreciation deductions for owners of passenger vehicles, trucks and vans first placed in service during calendar year 2015,

·

income inclusion amounts by lessees of passenger vehicles, trucks and vans, and

·

revised depreciation limitations and lessee inclusion amounts for passenger vehicles taking advantage of bonus depreciation under IRC Section 168(k).

 

 

TABLE 1. DEPRECIATION LIMITATIONS FOR PASSENGER AUTOMOBILES PLACED IN SERVICE IN CALENDAR YEAR 2015 FOR WHICH THE § 168(k) ADDITIONAL FIRST YEAR DEPRECIATION DEDUCTION APPLIES

Tax Year

Amount

1st Tax Year

$11,160

2nd Tax Year

$5,100

3rd Tax Year

$3,050

Each Succeeding Year

$1,875

 

 

TABLE 2. DEPRECIATION LIMITATIONS FOR TRUCKS AND VANS PLACED IN SERVICE IN CALENDAR YEAR 2015 FOR WHICH THE § 168(k) ADDITIONAL FIRST YEAR DEPRECIATION DEDUCTION APPLIES

Tax Year

Amount

1st Tax Year

$11,460

2nd Tax Year

$5,600

3rd Tax Year

$3,350

Each Succeeding Year

$1,975

 

 

TABLE 3. DEPRECIATION LIMITATIONS FOR PASSENGER AUTOMOBILES PLACED IN SERVICE IN CALENDAR YEAR 2015 FOR WHICH THE § 168(k) ADDITIONAL FIRST YEAR DEPRECIATION DEDUCTION DOES NOT APPLY

Tax Year

Amount

1st Tax Year

$3,160

2nd Tax Year

$5,100

3rd Tax Year

$3,050

Each Succeeding Year

$1,875

 

 

TABLE 4. DEPRECIATION LIMITATIONS FOR TRUCKS AND VANS PLACED IN SERVICE IN CALENDAR YEAR 2015 FOR WHICH THE § 168 (k) DEPRECIATION DEDUCTION DOES NOT APPLY

Tax Year

Amount

1st Tax Year

$3,460

2nd Tax Year

$5,600

3rd Tax Year

$3,350

Each Succeeding Year

$1,975

 

 

TABLE 3. DOLLAR AMOUNTS FOR PASSENGER AUTOMOBILES WITH A LEASE TERM BEGINNING IN CALENDAR YEAR 2015

Fair Market Value of Passenger Automobile

Tax Year During Lease

Over

Not Over

1st

2nd

3rd

4th

5th & later

$17,500

$18,000

3

6

9

10

11

18,000

18,500

4

7

11

13

15

18,500

19,000

4

9

14

15

18

19,000

19,500

5

11

15

19

21

19,500

20,000

6

12

18

22

24

20,000

20,500

6

14

20

25

27

20,500

21,000

7

15

23

27

31

21,000

21,500

8

17

25

30

34

21,500

22,000

9

18

28

32

38

22,000

23,000

10

21

31

37

42

23,000

24,000

11

24

36

42

49

24,000

25,000

12

27

41

48

55

25,000

26,000

14

30

45

54

62

26,000

27,000

15

34

49

60

68

27,000

28,000

17

37

54

65

75

28,000

29,000

18

40

59

71

81

29,000

30,000

20

43

64

76

87

30,000

31,000

21

46

69

81

95

31,000

32,000

23

49

73

88

100

32,000

33,000

24

52

78

93

107

33,000

34,000

25

56

82

99

114

34,000

35,000

27

59

87

104

120

35,000

36,000

28

62

92

110

126

36,000

37,000

30

65

96

116

133

37,000

38,000

31

68

102

121

139

38,000

39,000

33

71

106

127

146

39,000

40,000

34

75

110

132

153

40,000

41,000

35

78

115

138

159

41,000

42,000

37

81

120

143

166

42,000

43,000

38

84

125

149

172

43,000

44,000

40

87

129

155

179

44,000

45,000

41

90

134

161

185

45,000

46,000

43

93

139

166

191

46,000

47,000

44

97

143

172

198

47,000

48,000

45

100

148

177

205

48,000

49,000

47

103

153

183

210

49,000

50,000

48

106

158

188

218

50,000

51,000

50

109

162

194

224

51,000

52,000

51

112

167

200

230

52,000

53,000

53

115

172

205

237

53,000

54,000

54

119

176

211

243

54,000

55,000

56

122

180

217

250

55,000

56,000

57

125

186

222

256

56,000

57,000

58

128

191

227

263

57,000

58,000

60

131

195

234

269

58,000

59,000

61

135

199

239

276

59,000

60,000

63

137

205

244

283

60,000

62,000

65

142

212

253

292

62,000

64,000

68

149

220

265

304

64,000

66,000

71

155

230

275

318

66,000

68,000

73

162

239

287

331

68,000

70,000

76

168

249

298

343

70,000

72,000

79

174

258

309

357

72,000

74,000

82

180

268

320

370

74,000

76,000

85

186

277

332

383

76,000

78,000

88

193

286

343

396

78,000

80,000

91

199

296

354

408

80,000

85,000

96

210

312

374

431

85,000

90,000

103

226

335

402

464

90,000

95,000

110

242

359

430

496

95,000

100,000

117

258

382

458

529

100,000

110,000

128

281

418

500

577

110,000

120,000

142

313

464

556

643

120,000

130,000

157

344

511

613

707

130,000

140,000

171

376

558

668

772

140,000

150,000

185

408

604

725

837

150,000

160,000

200

439

651

781

902

160,000

170,000

214

470

699

837

966

170,000

180,000

228

502

745

894

1,031

180,000

190,000

243

533

792

950

1,096

190,000

200,000

257

565

839

1,006

1,161

200,000

210,000

271

597

886

1,061

1,226

210,000

220,000

286

628

933

1,118

1,290

220,000

230,000

300

660

979

1,174

1,356

230,000

240,000

315

691

1,026

1,231

1,420

240,000

And up

329

723

1,073

1,286

1,485

 

 

TABLE 4. DOLLAR AMOUNTS FOR TRUCKS AND VANS WITH A LEASE TERM BEGINNING IN CALENDAR YEAR 2015

Fair Market Value of Truck or Van

Tax Year During Lease

Over

Not Over

1st

2nd

3rd

4th

5th & later

$18,500

$19,000

2

4

6

8

9

19,000

19,500

3

6

8

11

12

19,500

20,000

4

7

11

13

16

20,000

20,500

4

9

13

16

19

20,500

21,000

5

11

15

19

22

21,000

21,500

6

12

18

22

25

21,500

22,000

6

14

20

25

28

22,000

23,000

7

16

24

29

33

23,000

24,000

9

19

29

34

40

24,000

25,000

10

23

33

40

46

25,000

26,000

12

25

38

46

53

26,000

27,000

13

29

42

51

60

27,000

28,000

15

32

47

57

65

28,000

29,000

16

35

52

62

73

29,000

30,000

18

38

56

68

79

30,000

31,000

19

41

61

74

85

31,000

32,000

20

45

66

79

91

32,000

33,000

22

48

70

85

98

33,000

34,000

23

51

75

91

104

34,000

35,000

25

54

80

96

111

35,000

36,000

26

57

85

101

118

36,000

37,000

28

60

89

108

124

37,000

38,000

29

63

94

113

131

38,000

39,000

30

67

98

119

137

39,000

40,000

32

70

103

124

144

40,000

41,000

33

73

108

130

150

41,000

42,000

35

76

113

135

157

42,000

43,000

36

79

118

141

163

43,000

44,000

38

82

122

147

169

44,000

45,000

39

85

127

153

176

45,000

46,000

40

89

131

158

183

46,000

47,000

42

92

136

163

189

47,000

48,000

43

95

141

169

195

48,000

49,000

45

98

145

175

202

49,000

50,000

46

101

151

180

208

50,000

51,000

48

104

155

186

215

51,000

52,000

49

108

159

192

221

52,000

53,000

51

110

165

197

228

53,000

54,000

52

114

169

203

234

54,000

55,000

53

117

174

208

241

55,000

56,000

55

120

178

214

248

56,000

57,000

56

123

183

220

254

57,000

58,000

58

126

188

225

261

58,000

59,000

59

130

192

231

267

59,000

60,000

61

133

197

236

273

60,000

62,000

63

137

204

245

283

62,000

64,000

66

144

213

256

296

64,000

66,000

68

150

223

268

308

66,000

68,000

71

157

232

278

322

68,000

70,000

74

163

241

290

335

70,000

72,000

77

169

251

301

348

72,000

74,000

80

175

261

312

361

74,000

76,000

83

182

269

324

374

76,000

78,000

86

188

279

335

386

78,000

80,000

89

194

288

346

400

80,000

85,000

94

205

305

366

422

85,000

90,000

101

221

328

394

455

90,000

95,000

108

237

351

422

488

95,000

100,000

115

253

375

450

519

100,000

110,000

126

276

410

492

569

110,000

120,000

140

308

457

548

633

120,000

130,000

155

339

504

604

698

130,000

140,000

169

371

551

660

763

140,000

150,000

183

403

597

717

827

150,000

160,000

198

434

644

773

893

160,000

170,000

212

466

691

829

957

170,000

180,000

226

497

738

885

1,023

180,000

190,000

241

528

785

942

1,087

190,000

200,000

255

560

832

997

1,152

200,000

210,000

269

592

878

1,054

1,217

210,000

220,000

284

623

925

1,110

1,282

220,000

230,000

298

655

972

1,166

1,346

230,000

240,000

312

687

1,019

1,222

1,411

240,000

And up

327

718

1,066

1,278

1,476

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 


 

1    Rev. Proc. 2015-19