Discussion:Section 179 $25K limit
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(Difference between revisions)
| Revision as of 17:05, 15 October 2008 Seaside CPA (Talk | contribs) (Even if the vehi) ← Previous diff |
Revision as of 19:33, 15 October 2008 Taxtamer (Talk | contribs) (Seaside is right) Next diff → |
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| {{ForumReplyPost|UserID=Seaside CPA|Date=15 October 2008|Text=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.}} | {{ForumReplyPost|UserID=Seaside CPA|Date=15 October 2008|Text=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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| + | {{ForumReplyPost|UserID=Taxtamer|Date=15 October 2008|Text=Seaside is right. If GVW > 6,000 lbs & 6 ft. or longer cargo bed, limits do not apply.}} | ||
Revision as of 19:33, 15 October 2008
Discussion Forum Index --> Basic Tax Questions --> Section 179 $25K limit
Discussion Forum Index --> Tax Questions --> Section 179 $25K limit
| 15 October 2008 | |
| 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 | |
| 15 October 2008 | |
| Yes, they are limited to the 25K. Must be over 14,000Lbs. to go higher. | |
ReadMyLips (talk|edits) said: | 15 October 2008 |
| My recollection is that the F450 is > 14,000 lbs so the $25k limit is not applied. | |
| 15 October 2008 | |
| the gross vehicle weight is located on the sticker on the inside portion of the drivers door. | |
| 15 October 2008 | |
| I think Read is correct the gross towing limit is 16,000lbs for F-450. I believe the statute says fully loaded. | |
Seaside CPA (talk|edits) said: | 15 October 2008 |
| 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. | |
| 15 October 2008 | |
| Seaside is right. If GVW > 6,000 lbs & 6 ft. or longer cargo bed, limits do not apply. | |
