IRS Announces Depreciation and Lease Inclusion Amounts on Vehicles for 2017

In Revenue Procedure 2017-29 the IRS released the limits on depreciation for vehicles subject to the limitations of §280F(d)(7)(B)(i) for items placed in service in 2016, as well as the revised limits for 2017 for autos qualifying for bonus depreciation under IRC §168(k). 

The 2017 limits are as follows:

The procedure also contains updated tables to be used for the lease inclusion amount under Reg. §1.280F-7 for lease terms beginning in calendar year 2017.