Section 179 Bonus Depreciation 2024 For Rental. While section 179 allows you to deduct the full cost of qualifying property in the year it's. Through the 2022 tax year, people could use bonus depreciation to write off eligible assets right away.
The act increased the maximum amount a taxpayer may expense under section 179 to $1 million with annual increases indexed for inflation. It requires a comprehensive approach that considers current and future financial.