Discussion:Depreciation on a truck
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Revision as of 17:03, 27 September 2007
Discussion Forum Index --> Basic Tax Questions --> Depreciation on a truck
Discussion Forum Index --> Tax Questions --> Depreciation on a truck
| 27 September 2007 | |
| I am getting myself confused by reading the Instructions for Form 4562. According to the Chart in the 2006 Instructions, the limit on your depreciation and section 179 expense is $3,260. Is that the total amount that can be taken for a 2005 Dodge 2500 Diesel truck? Then there is a paragraph saying you cannot elect to expense more than $25,000 of the cost of any SUV and certain other vehicles placed in service during the tax year. Evidently this is for vehicles more than 6,000 pounds. How can something that seems so simple get so complicated? When I input the vehicle into my software program, I think it came up with $7,000 depreciation. | |
