IRS issues 2012 vehicle depreciation limits

March 5th, 2012 by Joe Kristan

The IRS has updated the “luxury car” limits for vehicle depreciation for 2012 (Rev. Proc. 2012-23). There are two sets of limits: one for cars using bonus depreciation (only new cars qualify for that) and another for non-bonus depreciation. The tables:
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Click chart to enlarge
Cars.com says that a Kia “Soul” base model is listed at $15,994 in the Des Moines area, making it the cheapest “luxury” vehicle available.
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So live it up!
Related:
IRS announces 2011 vehicle depreciation limits without settling “year 2″ problem in 100% bonus years.
IRS release solves ‘second year zero’ problem for auto depreciation

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