Maximum Deduction for Automobile Placed in Service:
| Date Placed In Service |
1st Year |
2nd Year |
3rd Year |
4th & Later Years |
| 2008 | $10,960 1 | $4,800 | $2,850 | $1,775 |
| 2007 | 3,060 | 4,900 | 2,850 | 1,775 |
| 2006 | 2,960 | 4,800 | 2,850 | 1,775 |
| 2005 | 2,960 | 4,700 | 2,850 | 1,675 |
| 2004 | 10,610 1 | 4,800 | 2,850 | 1,675 |
| 5/06/03-12/31/03 | 10,710 2 | 4,900 | 2,950 | 1,775 |
| 1/01/03-5/05/03 | 7,660 3 | 4,900 | 2,950 | 1,775 |
- If you elected not to claim any special depreciation allowance for the vehicle, the vehicle is not qualified property, or the vehicle is qualified Liberty Zone property, the maximum deduction is $2,960.
- If you acquired the vehicle before 5/06/03, the maximum deduction is $7,660. If you elected not to claim any special depreciation allowance for the vehicle, the vehicle is not qualified property, or the vehicle is qualified Liberty Zone property, the maximum deduction is $3,060.
- If you elected not to claim any special depreciation allowance for the vehicle, the vehicle is not qualified property, or the vehicle is qualified Liberty Zone property, the maximum deduction is $3,060.
Maximum Deduction for Trucks and Vans
| Date PlacedIn Service |
1st Year |
2nd Year |
3rd Year |
4th & Later Years |
| 2008 | $11,160 1 | $5,100 | $3,050 | $1,875 |
| 2007 | 3,260 | 5,200 | 3,150 | 1,875 |
| 2006 | 3,260 | 5,200 | 3,150 | 1,875 |
| 2005 | 3,260 | 5,200 | 3,150 | 1,875 |
| 2004 | 10,910 2 | 5,300 | 3,150 | 1,875 |
| 5/06/03-12/31/03 | 11,010 3 | 5,400 | 3,250 | 1,975 |
| 1/01/03-5/05/03 | 7,960 4 | 5,400 | 3,250 | 1,975 |
- If you elected not to claim any special depreciation allowance for the vehicle, the vehicle is not qualified property, or the vehicle is qualified Liberty Zone property, the maximum deduction is $3,160.
- If you elected not to claim any special depreciation allowance for the vehicle, the vehicle is not qualified property, or the vehicle is qualified Liberty Zone property, the maximum deduction is $3,260.
- If you acquired the vehicle before 5/06/03, the maximum deduction is $7,960. If you elected not to claim any special depreciation allowance for the vehicle, the vehicle is not qualified property, or the vehicle is qualified Liberty Zone property, the maximum deduction is $3,360.
- If you elected not to claim any special depreciation allowance for the vehicle, the vehicle is not qualified property, or the vehicle is qualified Liberty Zone property, the maximum deduction is $3,360.