Bonus depreciation in 2016 permits taxpayers to deduct 100% of the cost of the asset in the year placed in service.

Name: Bonus depreciation in 2016 permits taxpayers to deduct 100% of the cost of the asset in the year placed in service.
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In 2016, bonus depreciation allowed for a 50% deduction of the cost of qualifying assets, not 100%. The 100% bonus depreciation was introduced later, starting with the Tax Cuts and Jobs Act of 2017.

Bonus Depreciation in 2016 Permits Taxpayers to Deduct 100% of the Cost