The IRS issued revenue procedures providing inflation-adjusted depreciation limitations for passenger automobiles, including trucks and vans, placed in service during calendar year 2026 under I.R.C. §280F. The revenue procedure contains three tables: Table 1 provides depreciation limitations for automobiles eligible for the I.R.C. §168(k) additional first-year depreciation deduction, Table 2 provides limitations for automobiles not eligible for bonus depreciation, and Table 3 provides dollar amounts for determining income inclusion requirements for lessees. The limitations reflect a 23.468 percent automobile price inflation adjustment calculated using the Chained Consumer Price Index for All Urban Consumers. [Rev Proc. 2026-15, 03/04/26]
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