Auto Depreciation Limits - 2016
2016-Automobile depreciation limit - year 2 and after
In 2016, for passenger automobiles, the limits are $5,100 for the second tax year; $3,050 for the third tax year; and $1,875 for each successive tax year, If placed in service between 2006 and 2011 then the allowed amount is $1,775. If placed in service between 2004 and 2005 then the allowed amount is $1,675.
Need Professional Help?
If you need help with "Auto Depreciation Limits - 2016" or have other tax questions, we can help you find a local licensed tax preparer for a free, no-obligation consultation.