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Section 179 and box length on a new pickup
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martin
Posted 12/2/2022 09:11 (#9961195 - in reply to #9961178)
Subject: RE: Section 179 and box length on a new pickup


I was going to look into form 4562. I see you did. 

It appears to me that car or truck is defined by that 6000 lbs weight value.  It is not whether you can depreciate a car or truck, but HOW you can depreciate a car or truck.  I copied these below from respective IRS publications, on their website:

From Publication 225:

Truck and Car Expenses
You can deduct the actual cost of operating a truck or car in your farm business. Only expen-
ses for business use are deductible. These include such items as gasoline, oil, repairs, license tags, insurance, and depreciation (subject to certain limits). Standard mileage rate. Instead of using actual costs, under certain conditions you can use

the standard mileage rate. For the period January 1, 2022, through June 30, 2022, the rate for each mile of business use is 58.5 cents. For the period July 1, 2022, through December 31, 2022, the rate for each mile of business use is 62.5 cents. You can use the standard mileage rate for a car or a light truck, such as a van, pickup, or SUV, you own or lease. You can't use the standard mileage rate if you operate five or more cars or light trucks at the same time. You aren't using five or more vehicles at the same time if you alternate using the vehicles (you use them at different times) for business.

 

From IRS Publication 463:

Depreciation and section 179 deductions. Generally, the cost of a car, plus sales tax and improvements, is a capital expense. Because the benefits last longer than 1 year, you generally can’t deduct a capital expense. However,you can recover this cost through the section 179 deduction (the deduction allowed by section 179 of the Internal Revenue Code), special depreciation allowance, and depreciation deductions. Depreciation allows you to recover the cost over more than 1 year by deducting part of it each year. The section 179 deduction,
special depreciation allowance, and depreciation deductions are discussed later. Generally, there are limits on these deductions. Special rules apply if you use your car 50% or less in your work or business. You can claim a section 179 deduction and use a depreciation method other than straight line only if you don’t use the standard mileage rate to figure your business-related car expenses in the year you first place a car in service. If, in the year you first place a car in service, you claim either a section 179 deduction or use a depreciation method other than straight line for its estimated useful life, you can’t use the standard mileage rate on that car in any future year

 

Car Defined.   For depreciation purposes, a car is any four-wheeled vehicle (including a truck or van) made primarily for use on public streets, roads, and highways. Its unloaded gross vehicle weight (for trucks and vans, gross vehicle weight) must not be more than 6,000 pounds. A car includes any part, component, or other item
physically attached to it or usually included in the purchase price.
A car doesn’t include:
An ambulance, hearse, or combination ambulance-hearse used directly in a business;
A vehicle used directly in the business of transporting persons or property for pay or hire; or
A truck or van that is a qualified non-personal use vehicle.
Qualified non-personal use vehicles. These are vehicles that by their nature aren’t
likely to be used more than a minimal amount for personal purposes. They include trucks and vans that have been specially modified so that they aren’t likely to be used more than a minimal amount for personal purposes, such as by installation of permanent shelving and painting the vehicle to display advertising or the company's name. Delivery trucks with seating only for the driver, or only for the driver plus a folding jump seat, are qualified non-personal use vehicle.

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