If a new luxury automobile is used 100% for business and placed in service in 2016,the maximum MACRS depreciation on the vehicle for 2016 is $11,160.

Question

Quizplus · Accepted Answer

The maximum MACRS depreciation for a luxury automobile used 100% for business and placed in service in 2016 is indeed $11,160 for the first year of depreciation. This is due to the first year being eligible for the highest percentage of bonus depreciation allowed under the tax code.

If a New Luxury Automobile Is Used 100% for Business