§280F. Limitation on depreciation for luxury automobiles; limitation where certain property used for personal purposes — Inbound Citations
26 U.S.C. § 280F
Cited by 8 provisions in release 119-102.
Citations to 26 U.S.C. § 280F as a whole
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(F) For purposes of section 280F—(i) In the case of a passenger automobile (as defined in section 280F(d)(5)) which is qualified property, the Secretary shall increase the limitation under section 280F(a)(1)(A)(i) by $8,000.(ii) The deduction allowable under paragraph (1) shall be taken into account in computing any recapture amount under section 280F(b)(2).(iii) In the case of a passenger automobile acquired by the taxpayer before September 28, 2017, and placed in service by the taxpayer after September 27, 2017, clause (i) shall be applied by substituting for “$8,000”—(I) in the case of an automobile placed in service during 2018, $6,400, and(II) in the case of an automobile placed in service during 2019, $4,800.
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(II) which is not subject to section 280F, and
Citations to §280F(a)(1)(A)(i)
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(i) In the case of a passenger automobile (as defined in section 280F(d)(5)) which is qualified property, the Secretary shall increase the limitation under section 280F(a)(1)(A)(i) by $8,000.
Citations to §280F(b)
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(ii) after the application of section 280F(b) (relating to listed property with limited business use).
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(ii) after application of section 280F(b) (relating to listed property with limited business use).
Citations to §280F(b)(2)
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(ii) The deduction allowable under paragraph (1) shall be taken into account in computing any recapture amount under section 280F(b)(2).
Citations to §280F(d)(4)
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(3) with respect to any listed property (as defined in section 280F(d)(4)),
Citations to §280F(d)(5)
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(i) In the case of a passenger automobile (as defined in section 280F(d)(5)) which is qualified property, the Secretary shall increase the limitation under section 280F(a)(1)(A)(i) by $8,000.