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Updated for 2012
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Depreciation Limits for Electric Cars
Electric cars are propelled by electricity and built by an original equipment manufacturer.
They have higher depreciation limits than gas-propelled passenger cars. Although a hybrid car may be partially powered by electricity, it is not treated as an electric vehicle.
Annual depreciation limits for electric cars:
- Tax year 2006: $8,960
- Tax year 2007: $14,400
- Tax year 2008 $8,650
Annual limits must be reduced for personal use.
Next:
Car Expenses-Depreciation: Depreciating Improvements Made to Vehicle
Related Links
- The Mileage Allowance Method
- The Actual Expense Method
- Six Things to Know About Depreciating Your Car
- Depreciation Methods
- Depreciation Conventions
- Type of Vehicle Being Depreciated
- Heavy Trucks, Vans, and SUVs (weight-rated over 6,000 pounds)
- Passenger Cars (weight-rated at 6,000 pounds or less unloaded)
- Light Trucks, Vans, and SUVs (weight-rated 6,000 pounds or less fully loaded)
- Depreciation Recapture Rule
- Points to Keep in Mind Before Choosing a Depreciation Method
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