Assuming it's built on a truck chassis and has a GVW of less
than 6,000, the limit is $3,260. If not built on a truck
chassis: $2,960. If GVW > 6000, there is no depreciation
limit.

<< ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2005) - All rights reserved. > << ================================================== ===== >

My sister bought a pre owned 2001 Luxury SUV for $28,500 in
sept 2004. had 45,000 miles on it when she bought it.

She has an extension to do her 2004 taxes till oct 15 2005.

She wants to write it off (using all possible) depreciation
under IRS rules.

I tried reading the rules and am confused.

can anyone pls help ?

what is the max dep she can write off during 2004 ?

It says on a IRS pub:
$10,910 if you claim the 50% or 30% special allowance
is this the figure ?

She uses this auto 100% for bus.

Pls help.

Thanks

<< ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << It may not be relied upon for the purpose of avoiding > << penalties that may be imposed on the taxpayer or the > << tax preparer. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2005) - All rights reserved. > << ================================================== ===== >