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Old 09-27-2012, 06:56 PM
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How are Trucks, Vans and SUV treated for depreciation purposes if their Gross Vehicle Weight exceeds 6,000 pounds?

Per the IRS, "All trucks, vans, and SUVs with loaded gross vehicle weight in excess of 6,000 pounds are not treated as luxury automobiles for depreciation purposes."

Taxpayers are allowed to depreciate such vehicles using the same rules as any other five-year asset, including 50% bonus depreciation, except that Sec. 179 is limited to no more than $25,000.

the IRS states that "even though such vehicles are not subject to the luxury auto depreciation limitations, they are still considered to be listed property." But, all relevant supporting documentation must be maintained and reported on Form 4562, page 2.

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