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2017 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 2017 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 2017,

·

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 2017 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 2017 FOR WHICH THE § 168(k) ADDITIONAL FIRST YEAR DEPRECIATION DEDUCTION APPLIES

Tax Year

Amount

1st Tax Year

$11,560

2nd Tax Year

$5,700

3rd Tax Year

$3,350

Each Succeeding Year

$2,075

 

 

TABLE 3. DEPRECIATION LIMITATIONS FOR PASSENGER AUTOMOBILES PLACED IN SERVICE IN CALENDAR YEAR 2017 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 2017 FOR WHICH THE § 168 (k) DEPRECIATION DEDUCTION DOES NOT APPLY

Tax Year

Amount

1st Tax Year

$3,560

2nd Tax Year

$5,700

3rd Tax Year

$3,450

Each Succeeding Year

$2,075

 

 

TABLE 5. DOLLAR AMOUNTS FOR PASSENGER AUTOMOBILES WITH A LEASE TERM BEGINNING IN CALENDAR YEAR 2017

Fair Market Value of Passenger Automobile

Tax Year During Lease

Over

Not Over

1st

2nd

3rd

4th

5th & later

19,000

19,500

6

14

20

23

27

19,500

20,000

7

16

23

27

31

20,000

20,500

8

18

26

30

35

20,500

21,000

9

20

28

35

39

21,000

21,500

10

21

32

38

44

21,500

22,000

11

23

35

42

47

22,000

23,000

12

27

39

47

53

23,000

24,000

14

31

45

54

62

24,000

25,000

16

34

52

61

70

25,000

26,000

18

38

58

68

78

26,000

27,000

19

43

63

75

87

27,000

28,000

21

47

69

82

95

28,000

29,000

23

51

75

89

103

29,000

30,000

25

55

80

97

112

30,000

31,000

27

58

87

104

120

31,000

32,000

29

62

93

111

128

32,000

33,000

30

67

99

118

136

33,000

34,000

32

71

104

126

144

34,000

35,000

34

75

110

133

152

35,000

36,000

36

79

116

140

160

36,000

37,000

38

82

123

147

169

37,000

38,000

40

86

129

154

177

38,000

39,000

41

91

134

161

186

39,000

40,000

43

95

140

168

194

40,000

41,000

45

99

146

175

202

41,000

42,000

47

103

152

182

210

42,000

43,000

49

106

159

189

218

43,000

44,000

50

111

164

197

226

44,000

45,000

52

115

170

204

234

45,000

46,000

54

119

176

211

243

46,000

47,000

56

123

182

218

251

47,000

48,000

58

127

187

225

260

48,000

49,000

60

130

194

232

268

49,000

50,000

61

135

200

239

276

50,000

51,000

63

139

206

246

284

51,000

52,000

65

143

211

254

292

52,000

53,000

67

147

217

261

301

53,000

54,000

69

151

223

268

309

54,000

55,000

70

155

229

275

318

55,000

56,000

72

159

235

282

326

56,000

57,000

74

163

241

289

334

57,000

58,000

76

167

247

296

342

58,000

59,000

78

171

253

303

350

59,000

60,000

80

174

260

310

359

60,000

62,000

82

181

268

321

371

62,000

64,000

86

189

280

335

387

64,000

66,000

90

197

292

349

404

66,000

68,000

93

205

304

364

420

68,000

70,000

97

213

315

379

436

70,000

72,000

101

221

327

393

453

72,000

74,000

104

229

339

407

470

74,000

76,000

108

237

351

421

486

76,000

78,000

111

245

363

436

502

78,000

80,000

115

253

375

450

518

80,000

85,000

122

267

396

474

548

85,000

90,000

131

287

425

511

588

90,000

95,000

140

307

455

546

630

95,000

100,000

149

327

485

581

671

100,000

110,000

162

357

530

635

733

110,000

120,000

181

397

589

706

815

120,000

130,000

199

437

649

777

898

130,000

140,000

217

477

708

849

980

140,000

150,000

235

517

768

920

1,062

150,000

160,000

254

557

827

991

1,145

160,000

170,000

272

597

887

1,062

1,227

170,000

180,000

290

637

946

1,134

1,309

180,000

190,000

308

677

1,006

1,205

1,391

190,000

200,000

326

718

1,064

1,277

1,473

200,000

210,000

345

757

1,124

1,348

1,556

210,000

220,000

363

797

1,184

1,419

1,638

220,000

230,000

381

837

1,244

1,490

1,721

230,000

240,000

399

878

1,302

1,562

1,803

240,000

And up

418

917

1,362

1,633

1,885

 

 

TABLE 6. DOLLAR AMOUNTS FOR TRUCKS AND VANS WITH A LEASE TERM BEGINNING IN CALENDAR YEAR 2017

Fair Market Value of Truck or Van

Tax Year During Lease

Over

Not Over

1st

2nd

3rd

4th

5th & later

19,500

20,000

4

8

11

13

16

20,000

20,500

4

10

14

17

20

20,500

21,000

5

12

17

21

23

21,000

21,500

6

14

20

24

28

21,500

22,000

7

16

23

28

32

22,000

23,000

9

19

27

33

38

23,000

24,000

10

23

34

40

46

24,000

25,000

12

27

39

48

54

25,000

26,000

14

31

45

55

62

26,000

27,000

16

35

51

62

71

27,000

28,000

18

39

57

69

79

28,000

29,000

19

43

63

76

88

29,000

30,000

21

47

69

83

96

30,000

31,000

23

51

75

90

104

31,000

32,000

25

55

81

97

112

32,000

33,000

27

59

87

104

120

33,000

34,000

29

63

93

111

129

34,000

35,000

30

67

99

119

136

35,000

36,000

32

71

105

126

145

36,000

37,000

34

75

111

133

153

37,000

38,000

36

79

117

140

161

38,000

39,000

38

83

122

148

169

39,000

40,000

40

87

128

155

177

40,000

41,000

41

91

135

161

186

41,000

42,000

43

95

141

168

194

42,000

43,000

45

99

146

176

203

43,000

44,000

47

103

152

183

211

44,000

45,000

49

107

158

190

219

45,000

46,000

50

111

165

196

228

46,000

47,000

52

115

170

204

236

47,000

48,000

54

119

176

211

244

48,000

49,000

56

123

182

218

252

49,000

50,000

58

127

188

225

261

50,000

51,000

60

131

194

232

269

51,000

52,000

61

135

200

240

277

52,000

53,000

63

139

206

247

285

53,000

54,000

65

143

212

254

293

54,000

55,000

67

147

218

261

301

55,000

56,000

69

151

224

268

309

56,000

57,000

70

155

230

275

318

57,000

58,000

72

159

236

282

326

58,000

59,000

74

163

242

289

335

59,000

60,000

76

167

248

296

343

60,000

62,000

79

173

256

308

355

62,000

64,000

82

181

269

321

372

64,000

66,000

86

189

280

336

388

66,000

68,000

90

197

292

350

404

68,000

70,000

93

205

304

365

420

70,000

72,000

97

213

316

379

437

72,000

74,000

101

221

328

393

453

74,000

76,000

104

229

340

407

470

76,000

78,000

108

237

352

421

487

78,000

80,000

111

245

364

436

503

80,000

85,000

118

259

384

461

532

85,000

90,000

127

279

414

497

573

90,000

95,000

136

299

444

532

614

95,000

100,000

145

319

474

567

656

100,000

110,000

159

349

518

621

717

110,000

120,000

177

389

578

692

800

120,000

130,000

195

429

637

764

882

130,000

140,000

213

470

696

835

964

140,000

150,000

232

509

756

906

1,047

150,000

160,000

250

549

816

977

1,129

160,000

170,000

268

589

875

1,049

1,211

170,000

180,000

286

630

934

1,120

1,293

180,000

190,000

305

669

994

1,191

1,376

190,000

200,000

323

709

1,054

1,262

1,458

200,000

210,000

341

750

1,112

1,334

1,540

210,000

220,000

359

790

1,172

1,405

1,623

220,000

230,000

377

830

1,231

1,477

1,705

230,000

240,000

396

870

1,290

1,548

1,787

240,000

And up

414

910

1,350

1,619

1,870



 

1    Rev. Proc. 2017-29