What Is Bonus Depreciation 2024 Tax. Bonus depreciation the bonus depreciation rate was reduced to 80% for property placed in service in 2023, and is set to be reduced to 60% in 2024, 40% in 2025, 20% in 2026, and zero in 2027. Tax code for this purpose are section 179 and bonus depreciation.
The legislation would reinstate 100% bonus depreciation for property placed in service in 2023 and extend it for property placed in service through 2025. 31, 2022, a taxpayer meets the sec.