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Discussion Forum Index --> Basic Tax Questions --> Section 179 $25K limit
Discussion Forum Index --> Tax Questions --> Section 179 $25K limit
Anchorman (talk|edits) said:
| 15 October 2008
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| Client purchased Ford F450 in 2007 -- well in excess of the 6,000 GVWR. Is he limited to $25,000 expense via Sec. 179, like with SUV's, or is there no limit? Have been studying my copy of the 2008 Master Tax Guide but am still unclear. Thanks much
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Jctmstx (talk|edits) said:
| 15 October 2008
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| Yes, they are limited to the 25K. Must be over 14,000Lbs. to go higher.
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ReadMyLips (talk|edits) said:
| 15 October 2008
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| My recollection is that the F450 is > 14,000 lbs so the $25k limit is not applied.
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"Shoebox" (talk|edits) said:
| 15 October 2008
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| the gross vehicle weight is located on the sticker on the inside portion of the drivers door.
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Jctmstx (talk|edits) said:
| 15 October 2008
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| I think Read is correct the gross towing limit is 16,000lbs for F-450. I believe the statute says fully loaded.
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Seaside CPA (talk|edits) said:
| 15 October 2008
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| Even if the vehicle is less than 14,000 lbs, if it has a cargo bed of at least six feet, the $25,000 limit does not apply.
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Taxtamer (talk|edits) said:
| 15 October 2008
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| Seaside is right. If GVW > 6,000 lbs & 6 ft. or longer cargo bed, limits do not apply.
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TDono2 (talk|edits) said:
| 15 October 2008
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| By the way, 6' applies to the interior of the cargo bed - made that mistake once - ouch! (I know, cargo bed usually is interpreted as cargo space - i.e. interior, what can I say, it was a bad day).
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Kevinh5 (talk|edits) said:
| 15 October 2008
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| as long as they don't bring back cargo pants I'd allow the deduction.
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TDono2 (talk|edits) said:
| 15 October 2008
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| 6' long cargo pants....that would be interesting! hee hee
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