2024 Section 179 Limits For Light Vehicles. As described below, there are a few limitations for specific types of vehicles. It also explains when and.
This chapter explains what property does and does not qualify for the section 179 deduction, what limits apply to the deduction (including special rules for partnerships and corporations), and how to elect it. Typically light vehicles include passenger vehicles(cars), small and light crossover suvs, and small pickup trucks and small utility trucks.