The IRS today released an advance version of Rev. Proc. 2020-37 that provides the annual depreciation deduction limitations under section 280F for automobiles placed in service in 2020. These limitations are required to be adjusted for inflation for automobiles placed in service after 2018.
Rev. Proc. 2020-37 [PDF 46 KB] provides:
The tables listed in Rev. Proc. 2020-37 provide the depreciation limits for automobiles placed in service during 2020:
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