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Can I deduct 6000 lb suv?

TL;DR

Yes, you can potentially deduct a 6,000 lb SUV if it is used for business purposes, subject to specific conditions and limitations.

Detailed Answer

The IRS allows a deduction for vehicles over 6,000 pounds under Section 179, which permits businesses to deduct the full purchase price of qualifying equipment purchased or financed during the tax year. However, the vehicle must be used more than 50% for business purposes, and the deduction is limited to $28,900 for SUVs as of 2023. Additionally, the total Section 179 deduction is capped at $1,160,000 for all qualifying equipment. If the vehicle is used less than 100% for business, the deduction must be prorated based on the percentage of business use.

Where to Put It on the Tax Form

Report on Form 4562, Depreciation and Amortization, Part I for Section 179 deduction.

Real World Example

A real estate agent purchases a new SUV weighing over 6,000 lbs for $50,000. The vehicle is used 80% for business purposes. The agent can deduct $28,900 under Section 179 in the year of purchase, subject to the overall business income limitation.

Calculation Required

A calculation is required for this deduction.

Calculate the business use percentage of the vehicle and apply it to the Section 179 limit for SUVs. For example, if the SUV is used 80% for business, multiply $28,900 by 0.80 to determine the deductible amount.

Audit Risk & Documentation Tips

To minimize audit risk, maintain detailed mileage logs and records of business use. Keep purchase receipts and documentation of the vehicle's weight and business purpose. Ensure that the business use percentage is accurately calculated and documented.

IRS Reference

IRS Publication 946, How to Depreciate Property; IRS Section 179 Deduction

Relevant Industries

Small BusinessReal Estate AgentsConstructionConsultants

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Disclaimer: This is for informational purposes only and should not be construed as tax or legal advice. Always consult your tax advisor.

Page created on July 15, 2025

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