List of Vehicles Over 6000 lb that Qualify for the 2023 IRS Section 179 Tax Benefit Deduction | Taxfyle (2024)

FAQs

What vehicle qualifies for 179 deduction in 2023? ›

Heavy vehicles must be between 6,000 and 14,000 pounds. This would include most full-sized SUVs, cargo and passenger vans, and pickup trucks. “Heavy” vehicles can deduct a maximum of $28,900 for 2023.

Almost any business use vehicle will qualify for Section 179, including heavy equipment. The vehicle generally needs to exceed 6,000 lbs in GVW (gross vehicle weight). Visit our Section 179 and Vehicles page for more information.

Heavy SUVs, pickups, and vans over 6000 lbs. and mainly used for business can get a partial deduction and bonus depreciation. Typical work vehicles without personal use qualify. Cargo vans and box trucks with no passenger seating can qualify. Specialty vehicles like ambulances and hearses often qualify.

Trucks with a GVWR greater than 6,000 lbs. and a bed length of at least six feet (i.e., Ford F-150/F-250/F-350) qualify for the maximum first-year depreciation deduction of up to the FULL PURCHASE PRICE. SUVs, including trucks, with a bed length of less than six feet and a GVWR greater than 6,000 lbs.

For tax years beginning in 2023, the maximum section 179 expense deduction is $1,160,000. This limit is reduced by the amount by which the cost of section 179 property placed in service during the tax year exceeds $2,890,000.

**Trucks vans and SUVs as defined in the IRS Code with a GVWR over 6,000 lbs and placed in service during 201 qualify for immediate depreciation deductions of up to 100% of the purchase price.

What vehicles qualify for the Section 179 deduction in 2024? Obvious non-personal “work” vehicles (dump truck, backhoe, farm tractor, etc.) Specialty vehicles with a specific use (hearse, ambulance, etc.) *Note: Heavy SUVs have a deduction cap of $30,500 for the 2024 tax year.

While you can claim a Section 179 deduction for most kinds of property or assets, there are some types of assets that don't qualify: Real property – Buildings, land and land improvements (this includes swimming pools, paved parking areas, docks, bridges and fences) Air conditioning and heating equipment.

Heavy Vehicle Depreciation Tax Breaks in a Nutshell

179 deduction is limited to $25,000. Heavy non-SUVs — such as long-bed pickups and vans — are unaffected by the $25,000 limit. For those vehicles, you can often write off the entire business-use portion of the cost in the first year under the Sec.

Anyone who has registered or is required to register large trucks and buses with a taxable gross weight of 55,000 pounds or more must file Form 2290, Heavy Highway Vehicle Use Tax Return PDF.

Does the Jeep Grand Cherokee qualify for Section 179? ›

This initiative -- introduced by the U.S. government -- was established to aid small- and medium-sized businesses in lightening their tax load and investing in themselves. Sturdy SUVs like the latest Jeep Grand Cherokee qualify, as do passenger vans such as the Chrysler Pacifica.

They include: A dollar limit on the deduction ($1,160,000 for 2023, and $1,220,000 for 2024). A limit on the amount of investment in section 179 property ( $2,890,000 for 2023 and $3,050,000 for 2024). A taxable business income limit (income limit).

If a sport utility vehicle (SUV) is exempt from the annual “luxury vehicle” depreciation caps, the amount of the section 179 deduction is limited to $28,900 for 2023 and $30,500 for 2024.

Yep, if your business uses vehicles that weigh over 6,000 lbs., you can write off $28,900 in 2023. So, what does it take to qualify for this tax break? First up, the vehicle's gross vehicle weight rating (GVWR)—that's the total weight of the vehicle, including passengers, cargo, and even fuel—has to exceed 6,000 lbs.

Office furniture, certain vehicles, computers and off-the-shelf software are typically considered deductible expenses. In 2024 (taxes filed in 2025), the Section 179 deduction is $1,220,000.

Section 179 of the IRC allows businesses to take an immediate deduction for business expenses related to depreciable assets such as equipment, vehicles, and software. This allows businesses to lower their current-year tax liability rather than capitalizing an asset and depreciating it over time in future tax years.