Section 179 Deduction for a 100% business use truck with over 6000 GVWR in 2023

[1NY69]

Hi, 

Q: Can I use the Section 179 Deduction for the full purchase price of this truck (100% business use truck with over 6000 GVWR purchased and placed into service in 2023)?

OR, do I only use Section 179 Deduction for an amount up to a certain limit (for 2023) and then use special depreciation for the remaining amount?

The total purchase price of the truck is $34,665.00

Thank you!

[tagteam]

See https://www.irs.gov/publications/p946#en_US_2023_publink1000107407

I'll also page Champ @Mike9241 

[1NY69]

Thank you @tagteam, your link sent me right to the section of code I missed, that states:

"Sport Utility and Certain Other Vehicles

You cannot elect to expense more than $28,900 of the cost of any heavy sport utility vehicle (SUV) and certain other vehicles placed in service in tax years beginning in 2023. This rule applies to any 4-wheeled vehicle primarily designed or used to carry passengers over public streets, roads, or highways that is rated at more than 6,000 pounds gross vehicle weight and not more than 14,000 pounds gross vehicle weight. However, the $28,900 limit does not apply to any vehicle:

• Designed to seat more than nine passengers behind the driver's seat;

• Equipped with a cargo area (either open or enclosed by a cap) of at least 6 feet in interior length that is not readily accessible from the passenger compartment; or

• That has an integral enclosure fully enclosing the driver compartment and load carrying device, does not have seating rearward of the driver's seat, and has no body section protruding more than 30 inches ahead of the leading edge of the windshield.

My truck is a regular cab (not extended, so no extra seating, so not designed to carry passengers) and it has an 8' bed, which, as I read it, then does not limit the deduction to @$28,900.

Thanks again!