The deduction will drop to 60% in 2024, decreasing 20% per. The legislation, dubbed the tax relief for american families and workers act of 2024, extends 100% bonus depreciation for eligible qualified property for qualified.
According to the tax cuts and jobs act (tcja) of 2017 a buyer of a used aircraft is entitled for a bonus depreciation for 2024. Bonus depreciation will remain available for most aircraft placed in service through the end of 2026 (2027 for many new aircraft), but at rates that will be stepped.
An Aircraft Placed In Service In 2023 Will Be Eligible For 80 Percent Bonus Depreciation, In 2024 It Will Be Eligible For 60 Percent.
A spokesperson for the national aircraft finance association (nafa) also points to the change in bonus depreciation, highlighting that the benefit will be further.
Through Bonus Depreciation, Also Known As Immediate Expensing, Taxpayers Placing Qualifying Property Into Service, Including Business Aircraft, Can Continue To Deduct The Full Cost Of Their Investment.
Learn more about aircraft depreciation in this blog post.
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Consistent With Current Law, There Are Transition Rules Which Permit Certain Qualifying Aircraft To Use The 30 Percent Bonus Depreciation Rate If Placed In Service In.
Starting in 2023, the owner can still deduct 80% of the cost of an aircraft put into service in that year.
The Deduction Will Drop To 60% In 2024, Decreasing 20% Per.
An aircraft placed in service in 2023 will be eligible for 80 percent bonus depreciation, in 2024 it will be eligible for 60 percent.