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Tax Deduction for Business Use of Your Personal Vehicle 
 
by kmhagen July 26, 2005

Depreciation Chart

You can find an MACRS depreciation chart in IRS Publication 463, Travel, Entertainment, Gift, and Car Expenses. Once you determine the basis of your vehicle, when you placed it in service, and the depreciation method you will use, you can use the chart to find your depreciation deduction for the year. There is a limit on the maximum depreciation deduction that can be taken each year, depending on the year in which you placed the vehicle in service. The referenced publication also includes a table with these limitations.

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