I need to know the maximum deduction allowed for depreciation on a passenger vehicle purchased in 2000?
The maximum deduction that can be claimed for a passenger vehicle that was placed in service in 2000 is $3,060 for the first year, $4,900 for the second year, $2,950 for the third year, and $1,775 for the fourth and following years. For more information, refer to Car Expenses in Chapter 4, Local Transportation Expenses of Publication 463, Travel, Entertainment, Gift, and Car Expenses and Special Rule for Passenger Automobiles in Chapter 4, Listed Property, of Publication 946, How to Depreciate Property.
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