How do I deduct tax write off for vehicle over 6000 lbs on my taxes?
TL;DR
Vehicles over 6,000 pounds can be eligible for a Section 179 deduction, allowing for significant immediate expensing, but must be used more than 50% for business purposes to qualify.
Detailed Answer
Where to Put It on the Tax Form
Schedule C, Line 13 for depreciation; Form 4562 for Section 179 deduction.
Real World Example
A real estate agent purchases a new SUV for $60,000, which is used 80% for business. They can claim a Section 179 deduction of $28,900 in the year of purchase, reducing taxable income significantly.
Calculation Required
A calculation is required for this deduction.
Calculate the business-use percentage by dividing business miles by total miles driven. Apply this percentage to the vehicle's cost to determine the deductible amount under Section 179, up to the limit.
Audit Risk & Documentation Tips
Moderate audit risk. Keep detailed mileage logs, purchase receipts, and documentation of business use. Ensure the vehicle is titled in the business name if possible and maintain records for at least three years.
IRS Reference
IRS Publication 946, Chapter 2; IRC §179
Relevant Industries
Popular Related Pages
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 18, 2025