Section 179 Bonus Depreciation 2024 Nj. The taxpayer may elect out of bonus depreciation, but can do so only for one or more full classes of property. Explain how strategies like section 179 expensing, bonus depreciation, the tangible property.
179 deduction for tax years beginning in 2024 is $1.22 million. Information is provided in the applicable tax return instructions regarding decoupling bonus depreciation and section 179 deductions from federal calculations.