Article

New Safe Harbor for First-Year Additional Depreciation of High Cost Vehicles

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Abstract

The Tax Cut and Jobs Act of 2017 (TCJA 2017), extended the additional (also referred to as “bonus”) first-year depreciation deduction for qualified property acquired and placed in service after September 27, 2017, and before January 1, 2027. This article focuses on the limitations on additional depreciation deductions for high-cost passenger vehicles and a new safe harbor provided by the IRS to guide taxpayers who elect use of the additional first-year depreciation deduction.

How to Cite:

Achenbach, R. P., (2019) “New Safe Harbor for First-Year Additional Depreciation of High Cost Vehicles”, Agricultural Law Digest 30(5), 33–34.