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REV. PROC. 2011-21 TABLE 8

DEPRECIATION LIMITATIONS FOR TRUCKS AND VANS PLACED IN SERVICE IN CALENDAR YEAR 2010 FOR WHICH THE § 168(k) ADDITIONAL FIRST YEAR DEPRECIATION DEDUCTION APPLIES

Tax Year

Amount

1st Tax Year

$11,160

2nd Tax Year

$ 5,100

3rd Tax Year

$ 3,050

Each Succeeding Year

$ 1,875

(3) Modification to lease inclusion amounts for 2010. The lease inclusion amounts

in Tables 3 and 4 of Rev. Proc. 2010-18 are modified by striking the first four lines of the

inclusion amounts in each table. Consequently, Table 3 of Rev. Proc. 2010-18 applies

to passenger automobiles (other than trucks and vans) that are first leased by the

taxpayer in calendar year 2010 with a fair market value over $18,500, and Table 4 of

Rev. Proc. 2010-18 applies to trucks and vans that are first leased by the taxpayer in

calendar year 2010 with a fair market value over $19,000.

SECTION 5. EFFECTIVE DATE

This revenue procedure, with the exception of section 4.03, applies to passenger

automobiles that a taxpayer first places in service or first leases during calendar year

2011. Section 4.03 of this revenue procedure applies to passenger automobiles that a

taxpayer first places in service or first leases during calendar year 2010.

SECTION 6. EFFECT ON OTHER DOCUMENTS

Rev. Proc. 2010-18 is amplified and modified.

SECTION 7. DRAFTING INFORMATION

The principal author of this revenue procedure is Bernard P. Harvey of the Office

of Associate Chief Counsel (Income Tax & Accounting). For further information

regarding this revenue procedure, contact Mr. Harvey at (202) 622-4930 (not a toll-free

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