2024 Bonus Depreciation Rules For Cars. The total section 179 deduction and depreciation you can deduct for a passenger automobile, including a truck or van, you use in your business and first placed in service in 2023 is $20,200, if the special depreciation. Keep in mind that there may.

If a vehicle is first leased in 2024, a taxpayer must add a lease inclusion amount to gross income in each year of the lease if its fair market value at the time of the lease is more. This strategy includes trucks, suvs, rvs, and even motorcycles.