How Much Is Bonus Depreciation In 2024 Taxes. However, as of tax year 2023, bonus depreciation was reduced to 80%. For certain qualified property acquired after september 27, 2017, and placed in service after december 31, 2022, and before january 1, 2024, you can elect to take a special depreciation.
Personal property typically has a depreciation period of fewer than 10 years when used inside rental property. For certain qualified property acquired after september 27, 2017, and placed in service after december 31, 2022, and before january 1, 2024, you can elect to take a special depreciation.