loturs

For GLE 450e owners, were you able to deduct the vehicle from your taxes in 2023? I haven't been able to find a definitive list of vehicles that qualify. I've only seen the G Wagon, GLS, or AMG GL listed.

GLE 63S Insane!

GLE counts as it is over 6000 GVWR. 2023 179 deduction is 60% of the cost (meaning you get it this year for 2023). 2024 is 40%. 2025 20%. 2026 0%. You have to be able to qualify a business use.

TNS550

Consult your tax advisor as the calculation is much more complicated than this. Section 179 is the IRS Code section allowing for additional first year depreciation. You must use the vehicle more than 50% for business to even consider Sec 179. Then there is a maximum limit of the 179 deduction per “heavy” vehicle ($30,500 in 2024, with the balance depreciated using MACRS). Then the percentage for depreciation depends on which convention (mid-month, mid-quarter, or half-year) you use based on when during the year you purchased the vehicle. Then you are only allowed your percentage of business use for any depreciation. So, consult your tax advisor for the property treatment/calculation.

GLE 63S Insane!

This is a much better explanation than mine. The bonus depreciation is key from 2017-now. After that it’s all normal business depreciation. But of course consult a tax person. That’s what I do. But the bonus depreciation is what got all those G Wagons on the road last few years!