RP-2015-19: vehicle depreciation

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February 6, 2015

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Issue Number: RP-2015-19

Inside This Issue

Revenue Procedure 2015-19 provides the depreciation deduction limitations for owners of passenger automobiles (including trucks and vans) first placed in service during calendar year 2015 and the amount to be included in income by lessees of passenger automobiles first leased during calendar year 2015. In addition, this revenue procedure revises the tables of depreciation limitations and lessee inclusion amounts for automobiles first placed in service or leased during 2014 and to which the 50 percent bonus depreciation applies as extended by the Tax Increase Prevent Act of 2014.

These depreciation deduction limitations and income inclusion amounts are updated annually pursuant to section 280F to reflect the automobile price inflation adjustments.

Revenue Procedure 2015-19 will be published in Internal Revenue Bulletin 2015-8 on February 23, 2015.

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