Bonus Depreciation 2024 Percentage . The bonus depreciation deduction limit for the 2023 tax year is 80% of the asset cost, down from 100% in 2022. First, bonus depreciation is another name for the additional first year depreciation deduction provided by section 168 (k).
Here’s what you need to know (and how it differs from section 179). For 2024, bonus depreciation has dropped another 20 percentage points in its gradual phaseout under the tax cuts and jobs act (tcja).
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