Luxury Auto Depreciation Caps and Lease Inclusion Amounts Issued for 2023
The IRS has issued the luxury car depreciation limits for business vehicles placed in service in 2023 and the lease inclusion amounts for business vehicles first leased in 2023. Depreciation Caps for Luxury Passenger Cars The luxury car depreciation caps for a passenger car placed in service in 2023 limit annual depreciation deductions to: $12,200 …
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