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previous page Previous Page: Publication 225 - Farmer's Tax Guide - Figuring Depreciation Under MACRS
next page Next Page: Publication 225 - Farmer's Tax Guide - Depletion
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taxmap/pubs/p225-033.htm#en_us_publink100079306

Additional Rules for Listed Property(p46)


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Listed property includes cars and other property used for transportation, property used for entertainment, and certain computers and cellular phones.
Deductions for listed property (other than certain leased property) are subject to the following special rules and limits.
taxmap/pubs/p225-033.htm#en_us_publink100079307

What Is Listed Property?(p46)


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Listed property is any of the following.
taxmap/pubs/p225-033.htm#en_us_publink100079308

Passenger automobiles.(p46)


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A passenger automobile is any 4-wheeled vehicle made primarily for use on public streets, roads, and highways and rated at 6,000 pounds or less of unloaded gross vehicle weight (6,000 pounds or less of gross vehicle weight for trucks and vans). It includes any part, component, or other item physically attached to the automobile or usually included in the purchase price of an automobile. Electric passenger automobiles are vehicles produced by an original equipment manufacturer and designed to run primarily on electricity.
Deposit
A truck or van that is a qualified nonpersonal use vehicle is not considered a passenger automobile. See Qualified nonpersonal use vehicles under Passenger Automobiles in chapter 5 of Publication 946 for the definition of qualified nonpersonal use vehicles.
taxmap/pubs/p225-033.htm#en_us_publink100079310

Other property used for transportation.(p46)


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This includes trucks, buses, boats, airplanes, motorcycles, and other vehicles used for transporting persons or goods.
taxmap/pubs/p225-033.htm#en_us_publink100079311

Excepted vehicles.(p46)
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Other property used for transportation does not include the following vehicles.
For more information, see chapter 5 of Publication 946.
taxmap/pubs/p225-033.htm#en_us_publink100079312

What Is the Business-Use Requirement?(p46)


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You can claim the section 179 expense deduction for listed property and depreciate listed property using GDS and a declining balance method, if the property meets the business-use requirement. To meet this requirement, listed property must be used predominantly (more than 50% of its total use) for qualified business use.To determine whether the business-use requirement is met, you must allocate the use of any item of listed property used for more than one purpose during the year among its various uses.
taxmap/pubs/p225-033.htm#en_us_publink100079313

Do the Passenger Automobile Limits Apply?(p46)


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The depreciation deduction (including the section 179 expense deduction) you can claim for a passenger automobile each year is limited. The passenger automobile limits are the maximum depreciation amounts you can deduct for a passenger automobile. They are based on the date you placed the vehicle in service. See chapter 5 of Publication 946 for tables that show the maximum depreciation deduction for passenger automobiles. Also, see the Instructions for  
Form 4562.
For information about deducting expenses for the business use of your passenger automobile, see chapter 4 in Publication 463.
taxmap/pubs/p225-033.htm#en_us_publink100079314

Deductions for passenger automobiles acquired in a trade-in.(p46)


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Special rules apply in figuring the depreciation for a passenger automobile received in a like-kind exchange or involuntary conversion. See chapter 5 of Publication 946 and section 1.168(i)-6(d)(3) of the regulations.
previous pagePrevious Page: Publication 225 - Farmer's Tax Guide - Figuring Depreciation Under MACRS
next pageNext Page: Publication 225 - Farmer's Tax Guide - Depletion
 Use previous pagenext page to find additional occurrences of topic items.Index for this Publication