What is the 2024 Section 179 deduction limit?

$1,160,000 maximum deduction, phased out dollar-for-dollar once total qualifying property placed in service exceeds $2,890,000. Fully eliminated at $4,050,000 of qualifying purchases.

What property qualifies for Section 179?

Tangible personal property used more than 50% for business: machinery, equipment, computers, vehicles (with limits), office furniture. Also qualifies: certain software and qualified improvement property.

What is the vehicle limitation under Section 179?

For passenger vehicles in 2024: maximum Section 179 deduction limited to $12,400 (sedan). SUVs over 6,000 lbs GVWR: limited to $28,900. Vehicles over 6,000 lbs used exclusively for business may qualify for full deduction.

Section 179 Expensing Calculator

Calculate Section 179 immediate expensing deduction. 2024 limit: $1,160,000. Phase-out begins at $2,890,000 of qualifying property. Cannot create a business loss.

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Frequently Asked Questions

What is the 2024 Section 179 deduction limit?

What property qualifies for Section 179?

What is the vehicle limitation under Section 179?