What Is Bonus Depreciation 2024 Tax Return . — you can deduct the $300,000 on your corporation’s 2024 federal income tax return. Full bonus depreciation is phased down by 20% each year for property placed in service after dec.
You can then deduct 60% of the remaining $200,000 ($500,000 − $300,000),. The remaining balance is then depreciated over time.
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