IRS Provides Limits On Depreciation Deductions For Autos.
Rev. Proc. 2006-18; 2006-1 C.B. 645
- Institutional AuthorsInternal Revenue Service
- Code Sections
- Subject Areas/Tax Topics
- Jurisdictions
- LanguageEnglish
- Tax Analysts Document NumberDoc 2006-5263
- Tax Analysts Electronic Citation2006 TNT 53-9
Rev. Proc. 2006-18
SECTION 1. PURPOSE
01. This revenue procedure provides: (1) limitations on depreciation deductions for owners of passenger automobiles first placed in service by the taxpayer during calendar year 2006, including special tables of limitations on depreciation deductions for trucks and vans, and for passenger automobiles designed to be propelled primarily by electricity and built by an original equipment manufacturer (electric automobiles); and (2) the amounts to be included in income by lessees of passenger automobiles first leased by the taxpayer during calendar year 2006, including a separate table of inclusion amounts for lessees of trucks and vans, and a separate table for lessees of electric automobiles.
02. The tables detailing these depreciation limitations and lessee inclusion amounts reflect the automobile price inflation adjustments required by § 280F(d)(7).
SECTION 2. BACKGROUND
01. For owners of passenger automobiles, § 280F(a) imposes dollar limitations on the depreciation deduction for the year that the passenger automobile is placed in service by the taxpayer and each succeeding year. In the case of electric automobiles placed in service after August 5, 1997, and before January 1, 2007, § 280F(a)(1)(C) requires tripling of these limitation amounts. Section 280F(d)(7) requires the amounts allowable as depreciation deductions to be increased by a price inflation adjustment amount for passenger automobiles placed in service after 1988. The method of calculating this price inflation amount for trucks and vans placed in service in or after calendar year 2003 uses a different CPI "automobile component" (the "new trucks" component) than that used in the price inflation amount calculation for other passenger automobiles (the "new cars" component), resulting in somewhat higher depreciation deductions for trucks and vans. This change reflects the higher rate of price inflation that trucks and vans have been subject to since 1988. For purposes of this revenue procedure, the term "trucks and vans" refers to passenger automobiles that are built on a truck chassis, including minivans and sport utility vehicles (SUVs) that are built on a truck chassis.
02. For leased passenger automobiles, § 280F(c) requires a reduction in the deduction allowed to the lessee of the passenger automobile. The reduction must be substantially equivalent to the limitations on the depreciation deductions imposed on owners of passenger automobiles. Under § 1.280F-7(a), this reduction requires the lessees to include in gross income an inclusion amount determined by applying a formula to the amount obtained from a table. There is a table for lessees of electric automobiles, a table for lessees of trucks and vans, and a table for all other passenger automobiles. Each table shows inclusion amounts for a range of fair market values for each tax year after the passenger automobile is first leased.
SECTION 3. SCOPE
01. The limitations on depreciation deductions in section 4.02(2) of this revenue procedure apply to passenger automobiles (other than leased passenger automobiles) that are placed in service by the taxpayer in calendar year 2006, and continue to apply for each tax year that the passenger automobile remains in service.
02. The tables in section 4.03 of this revenue procedure apply to leased passenger automobiles for which the lease term begins during calendar year 2006. Lessees of such passenger automobiles must use these tables to determine the inclusion amount for each tax year during which the passenger automobile is leased. See Rev. Proc. 2002-14, 2002-1 C.B. 450, for passenger automobiles first leased before January 1, 2003, Rev. Proc. 2003-75, 2003-2 C.B. 1018, for passenger automobiles first leased during calendar year 2003, Rev. Proc. 2004-20, 2004-1 C.B. 642, for passenger automobiles first leased during calendar year 2004, and Rev. Proc. 2005-13, 2005-1 C.B. 759, for passenger automobiles first leased during calendar year 2005.
SECTION 4. APPLICATION
01. In General.
(1) Limitations on Depreciation Deductions for Certain Automobiles. The limitations on depreciation deductions for passenger automobiles placed in service by the taxpayer for the first time during calendar year 2006 are found in Tables 1 through 3 in section 4.02(2) of this revenue procedure. Table 1 of this revenue procedure provides limitations on depreciation deductions for a passenger automobile. Table 2 of this revenue procedure provides limitations on depreciation deductions for a truck or van. Table 3 of this revenue procedure provides limitations on depreciation deductions for an electric automobile.
(2) Inclusions in Income of Lessees of Passenger Automobiles. A taxpayer first leasing a passenger automobile during calendar year 2006 must determine the inclusion amount that is added to gross income using the tables in section 4.03 of this revenue procedure. The inclusion amount is determined using Table 4 in the case of a passenger automobile (other than a truck, van, or electric automobile), Table 5 in the case of a truck or van, and Table 6 in the case of an electric automobile. In addition, the procedures of § 1.280F-7(a) must be followed.
02. Limitations on Depreciation Deductions for Certain Automobiles.
(1) Amount of the Inflation Adjustment. Under § 280F(d)(7)(B)(i), the automobile price inflation adjustment for any calendar year is the percentage (if any) by which the CPI automobile component for October of the preceding calendar year exceeds the CPI automobile component for October 1987. The term "CPI automobile component" is defined in § 280F(d)(7)(B)(ii) as the "automobile component" of the Consumer Price Index for all Urban Consumers published by the Department of Labor (the CPI). The new car component of the CPI was 115.2 for October 1987 and 135.1 for October 2005. The October 2005 index exceeded the October 1987 index by 19.9. The Service has, therefore, determined that the automobile price inflation adjustment for 2006 for passenger automobiles (other than trucks and vans) is 17.27 percent (19.9/115.2 x 100%). This adjustment is applicable to all passenger automobiles (other than trucks and vans) that are first placed in service in calendar year 2006. The dollar limitations in § 280F(a) must therefore be multiplied by a factor of 0.1727, and the resulting increases, after rounding to the nearest $100, are added to the 1988 limitations to give the depreciation limitations applicable to passenger automobiles (other than trucks, vans, and electric automobiles) for calendar year 2006. To determine the dollar limitations applicable to an electric automobile first placed in service during calendar year 2006, the dollar limitations in § 280F(a) are tripled in accordance with § 280F(a)(1)(C) and are then multiplied by a factor of 0.1727; the resulting increases, after rounding to the nearest $100, are added to the tripled 1988 limitations to give the depreciation limitations for calendar year 2006. To determine the dollar limitations applicable to trucks and vans first placed in service during calendar year 2006, the new truck component of the CPI is used instead of the new car component. The new truck component of the CPI was 112.4 for October 1987 and 143.6 for October 2005. The October 2005 index exceeded the October 1987 index by 31.2. The Service has, therefore, determined that the automobile price inflation adjustment for 2006 for trucks and vans is 27.76 percent (31.2/112.4 x 100%). This adjustment is applicable to all trucks and vans that are first placed in service in calendar year 2006. The dollar limitations in § 280F(a) must therefore be multiplied by a factor of 0.2776, and the resulting increases, after rounding to the nearest $100, are added to the 1988 limitations to give the depreciation limitations applicable to trucks and vans.
(2) Amount of the Limitation. For passenger automobiles placed in service by the taxpayer in calendar year 2006, Tables 1 through 3 contain the dollar amount of the depreciation limitation for each tax year. Use Table 1 for passenger automobiles placed in service by the taxpayer in calendar year 2006. Use Table 2 for trucks and vans placed in service by the taxpayer in calendar year 2006. Use Table 3 for electric automobiles placed in service by the taxpayer in calendar year 2006.
REV. PROC. 2006 -- 18 TABLE 1
DEPRECIATION LIMITATIONS FOR PASSENGER AUTOMOBILES
PLACED IN SERVICE BY THE TAXPAYER DURING CALENDAR YEAR 2006
Tax Year Amount
1st Tax Year $2,960
2nd Tax Year $4,800
3rd Tax Year $2,850
Each Succeeding Year $1,775
REV. PROC. 2006 -- 18 TABLE 2
DEPRECIATION LIMITATIONS FOR TRUCKS AND VANS
PLACED IN SERVICE BY THE TAXPAYER DURING CALENDAR YEAR 2006
Tax Year Amount
1st Tax Year $3,260
2nd Tax Year $5,200
3rd Tax Year $3,150
Each Succeeding Year $1,875
REV. PROC. 2006 -- 18 TABLE 3
DEPRECIATION LIMITATIONS FOR ELECTRIC AUTOMOBILES
PLACED IN SERVICE BY THE TAXPAYER DURING CALENDAR YEAR 2006
Tax Year Amount
1st Tax Year $8,980
2nd Tax Year $14,400
3rd Tax Year $8,650
Each Succeeding Year $5,225
The inclusion amounts for passenger automobiles first leased in calendar year 2006 are calculated under the procedures described in § 1.280F-7(a). Lessees of passenger automobiles other than trucks, vans, and electric automobiles should use Table 4 of this revenue procedure in applying these procedures, while lessees of trucks and vans should use Table 5 of this revenue procedure and lessees of electric automobiles should use Table 6 of this revenue procedure.
REV. PROC. 2006 -- 18 TABLE 4
DOLLAR AMOUNTS FOR PASSENGER AUTOMOBILES
(THAT ARE NOT TRUCKS, VANS, OR ELECTRIC AUTOMOBILES)
WITH A LEASE TERM BEGINNING IN CALENDAR YEAR 2006
Fair Market Value of Passenger
Automobile Tax Year During Lease
Over Not Over 1st 2nd
$15,200 $15,500 4 6
15,500 15,800 6 10
15,800 16,100 8 15
16,100 16,400 9 19
16,400 16,700 11 24
16,700 17,000 13 28
17,000 17,500 16 34
17,500 18,000 19 41
18,000 18,500 23 48
18,500 19,000 26 55
19,000 19,500 29 62
19,500 20,000 32 70
20,000 20,500 36 76
20,500 21,000 39 84
21,000 21,500 42 91
21,500 22,000 45 98
22,000 23,000 50 109
23,000 24,000 57 123
24,000 25,000 63 138
25,000 26,000 70 152
26,000 27,000 76 166
27,000 28,000 83 181
28,000 29,000 90 195
29,000 30,000 96 209
30,000 31,000 103 223
31,000 32,000 109 238
32,000 33,000 116 252
33,000 34,000 122 267
34,000 35,000 129 281
35,000 36,000 135 295
36,000 37,000 142 309
37,000 38,000 148 324
38,000 39,000 155 338
39,000 40,000 161 353
40,000 41,000 168 367
41,000 42,000 175 381
42,000 43,000 181 396
43,000 44,000 188 410
44,000 45,000 194 424
45,000 46,000 201 438
46,000 47,000 207 453
47,000 48,000 214 467
48,000 49,000 220 482
49,000 50,000 227 496
50,000 51,000 233 510
51,000 52,000 240 525
52,000 53,000 246 539
53,000 54,000 253 553
54,000 55,000 259 568
55,000 56,000 266 582
56,000 57,000 273 596
57,000 58,000 279 611
58,000 59,000 286 625
59,000 60,000 292 639
60,000 62,000 302 661
62,000 64,000 315 690
64,000 66,000 328 718
66,000 68,000 341 747
68,000 70,000 354 776
70,000 72,000 367 804
72,000 74,000 380 833
74,000 76,000 393 862
76,000 78,000 407 890
78,000 80,000 420 919
80,000 85,000 443 969
85,000 90,000 475 1,041
90,000 95,000 508 1,112
95,000 100,000 541 1,184
100,000 110,000 590 1,291
110,000 120,000 655 1,435
120,000 130,000 720 1,579
130,000 140,000 786 1,722
140,000 150,000 851 1,865
150,000 160,000 916 2,009
160,000 170,000 982 2,152
170,000 180,000 1,047 2,295
180,000 190,000 1,112 2,439
190,000 200,000 1,178 2,582
200,000 210,000 1,243 2,726
210,000 220,000 1,309 2,869
220,000 230,000 1,374 3,012
230,000 240,000 1,439 3,156
240,000 and up 1,505 3,299
Fair Market Value of Passenger
Automobile Tax Year During Lease
Over Not Over 3rd 4th 5th & later
$15,200 $15,500 10 10 10
15,500 15,800 16 18 18
15,800 16,100 22 25 28
16,100 16,400 29 33 36
16,400 16,700 35 40 45
16,700 17,000 42 48 53
17,000 17,500 50 58 66
17,500 18,000 61 71 80
18,000 18,500 71 84 95
18,500 19,000 82 96 110
19,000 19,500 93 109 125
19,500 20,000 103 122 139
20,000 20,500 114 135 154
20,500 21,000 124 148 168
21,000 21,500 135 160 184
21,500 22,000 146 173 198
22,000 23,000 162 192 220
23,000 24,000 183 218 250
24,000 25,000 204 243 279
25,000 26,000 225 269 309
26,000 27,000 247 294 339
27,000 28,000 268 319 368
28,000 29,000 289 345 397
29,000 30,000 311 371 426
30,000 31,000 332 397 455
31,000 32,000 353 422 485
32,000 33,000 374 448 515
33,000 34,000 395 473 545
34,000 35,000 417 498 574
35,000 36,000 439 523 604
36,000 37,000 460 549 633
37,000 38,000 481 575 662
38,000 39,000 502 601 691
39,000 40,000 523 626 721
40,000 41,000 545 651 750
41,000 42,000 566 677 780
42,000 43,000 587 702 810
43,000 44,000 608 728 839
44,000 45,000 630 753 869
45,000 46,000 651 779 898
46,000 47,000 672 805 927
47,000 48,000 694 830 956
48,000 49,000 715 855 986
49,000 50,000 736 881 1,016
50,000 51,000 758 906 1,045
51,000 52,000 778 932 1,075
52,000 53,000 800 958 1,104
53,000 54,000 821 984 1,133
54,000 55,000 842 1,009 1,163
55,000 56,000 864 1,034 1,192
56,000 57,000 885 1,060 1,221
57,000 58,000 906 1,085 1,251
58,000 59,000 927 1,111 1,281
59,000 60,000 949 1,136 1,311
60,000 62,000 981 1,174 1,354
62,000 64,000 1,023 1,225 1,413
64,000 66,000 1,066 1,276 1,473
66,000 68,000 1,108 1,328 1,531
68,000 70,000 1,151 1,378 1,590
70,000 72,000 1,194 1,429 1,649
72,000 74,000 1,236 1,481 1,707
74,000 76,000 1,278 1,532 1,767
76,000 78,000 1,321 1,583 1,825
78,000 80,000 1,363 1,634 1,884
80,000 85,000 1,438 1,723 1,987
85,000 90,000 1,544 1,851 2,135
90,000 95,000 1,651 1,978 2,282
95,000 100,000 1,757 2,106 2,429
100,000 110,000 1,917 2,297 2,650
110,000 120,000 2,130 2,552 2,944
120,000 130,000 2,342 2,807 3,239
130,000 140,000 2,555 3,062 3,534
140,000 150,000 2,768 3,317 3,829
150,000 160,000 2,980 3,573 4,123
160,000 170,000 3,193 3,828 4,417
170,000 180,000 3,406 4,083 4,712
180,000 190,000 3,619 4,337 5,007
190,000 200,000 3,832 4,592 5,301
200,000 210,000 4,044 4,848 5,595
210,000 220,000 4,257 5,103 5,890
220,000 230,000 4,470 5,358 6,185
230,000 240,000 4,682 5,613 6,480
240,000 and up 4,895 5,868 6,774
REV. PROC. 2006 -- 18 TABLE 5
DOLLAR AMOUNTS FOR TRUCKS AND VANS
WITH A LEASE TERM BEGINNING IN CALENDAR YEAR 2006
Fair Market Value of Truck or Van Tax Year During Lease
Over Not Over 1st 2nd
$16,700 $17,000 4 8
17,000 17,500 6 14
17,500 18,000 9 21
18,000 18,500 13 28
18,500 19,000 16 36
19,000 19,500 19 43
19,500 20,000 23 50
20,000 20,500 26 57
20,500 21,000 29 64
21,000 21,500 32 72
21,500 22,000 36 78
22,000 23,000 41 89
23,000 24,000 47 104
24,000 25,000 54 118
25,000 26,000 60 132
26,000 27,000 67 146
27,000 28,000 73 161
28,000 29,000 80 175
29,000 30,000 86 190
30,000 31,000 93 204
31,000 32,000 99 219
32,000 33,000 106 233
33,000 34,000 112 247
34,000 35,000 119 261
35,000 36,000 125 276
36,000 37,000 132 290
37,000 38,000 139 304
38,000 39,000 145 319
39,000 40,000 152 333
40,000 41,000 158 347
41,000 42,000 165 362
42,000 43,000 171 376
43,000 44,000 178 390
44,000 45,000 184 405
45,000 46,000 191 419
46,000 47,000 197 434
47,000 48,000 204 448
48,000 49,000 210 462
49,000 50,000 217 476
50,000 51,000 224 490
51,000 52,000 230 505
52,000 53,000 237 519
53,000 54,000 243 534
54,000 55,000 250 548
55,000 56,000 256 563
56,000 57,000 263 577
57,000 58,000 269 591
58,000 59,000 276 605
59,000 60,000 282 620
60,000 62,000 292 641
62,000 64,000 305 670
64,000 66,000 318 699
66,000 68,000 331 728
68,000 70,000 344 756
70,000 72,000 358 784
72,000 74,000 371 813
74,000 76,000 384 842
76,000 78,000 397 871
78,000 80,000 410 899
80,000 85,000 433 949
85,000 90,000 465 1,021
90,000 95,000 498 1,093
95,000 100,000 531 1,164
100,000 110,000 580 1,272
110,000 120,000 645 1,416
120,000 130,000 711 1,559
130,000 140,000 776 1,702
140,000 150,000 841 1,846
150,000 160,000 907 1,989
160,000 170,000 972 2,132
170,000 180,000 1,037 2,276
180,000 190,000 1,103 2,419
190,000 200,000 1,168 2,563
200,000 210,000 1,233 2,706
210,000 220,000 1,299 2,849
220,000 230,000 1,364 2,993
230,000 240,000 1,430 3,136
240,000 and up 1,495 3,279
Fair Market Value of Truck or Van Tax Year During Lease
Over Not Over 3rd 4th 5th and later
$16,700 $17,000 12 14 16
17,000 17,500 20 24 29
17,500 18,000 31 37 43
18,000 18,500 42 49 58
18,500 19,000 52 62 72
19,000 19,500 63 75 87
19,500 20,000 73 88 102
20,000 20,500 84 101 116
20,500 21,000 95 113 131
21,000 21,500 105 126 146
21,500 22,000 116 139 161
22,000 23,000 132 158 183
23,000 24,000 153 183 213
24,000 25,000 174 209 242
25,000 26,000 196 235 271
26,000 27,000 217 261 300
27,000 28,000 238 286 330
28,000 29,000 260 311 359
29,000 30,000 281 336 389
30,000 31,000 302 362 418
31,000 32,000 323 388 447
32,000 33,000 344 413 478
33,000 34,000 366 439 506
34,000 35,000 387 465 536
35,000 36,000 408 490 566
36,000 37,000 430 515 595
37,000 38,000 451 541 624
38,000 39,000 472 566 654
39,000 40,000 493 592 684
40,000 41,000 515 618 712
41,000 42,000 536 642 743
42,000 43,000 557 669 772
43,000 44,000 579 694 801
44,000 45,000 600 719 831
45,000 46,000 621 745 860
46,000 47,000 642 770 890
47,000 48,000 663 796 919
48,000 49,000 685 822 948
49,000 50,000 707 847 977
50,000 51,000 728 872 1,008
51,000 52,000 749 898 1,037
52,000 53,000 770 924 1,066
53,000 54,000 791 949 1,096
54,000 55,000 813 974 1,125
55,000 56,000 833 1,000 1,155
56,000 57,000 855 1,025 1,184
57,000 58,000 877 1,051 1,213
58,000 59,000 898 1,077 1,243
59,000 60,000 919 1,102 1,272
60,000 62,000 951 1,141 1,316
62,000 64,000 994 1,191 1,375
64,000 66,000 1,036 1,242 1,435
66,000 68,000 1,078 1,293 1,494
68,000 70,000 1,121 1,345 1,552
70,000 72,000 1,164 1,395 1,612
72,000 74,000 1,206 1,447 1,670
74,000 76,000 1,249 1,497 1,729
76,000 78,000 1,291 1,548 1,788
78,000 80,000 1,334 1,600 1,846
80,000 85,000 1,409 1,688 1,950
85,000 90,000 1,515 1,816 2,098
90,000 95,000 1,621 1,944 2,244
95,000 100,000 1,728 2,071 2,392
100,000 110,000 1,887 2,263 2,612
110,000 120,000 2,099 2,518 2,907
120,000 130,000 2,312 2,773 3,202
130,000 140,000 2,525 3,028 3,497
140,000 150,000 2,738 3,283 3,791
150,000 160,000 2,950 3,539 4,085
160,000 170,000 3,164 3,793 4,380
170,000 180,000 3,376 4,049 4,674
180,000 190,000 3,589 4,303 4,969
190,000 200,000 3,801 4,559 5,263
200,000 210,000 4,015 4,813 5,558
210,000 220,000 4,227 5,069 5,853
220,000 230,000 4,440 5,324 6,147
230,000 240,000 4,652 5,580 6,441
240,000 and up 4,866 5,834 6,736
REV. PROC. 2006 -- 18 TABLE 6
DOLLAR AMOUNTS FOR ELECTRIC AUTOMOBILES
WITH A LEASE TERM BEGINNING IN CALENDAR YEAR 2006
Fair Market Value of Electric Tax Year During Lease
Automobile
Over Not Over 1st 2nd
$45,000 $46,000 4 8
46,000 47,000 10 22
47,000 48,000 17 36
48,000 49,000 24 51
49,000 50,000 30 65
50,000 51,000 37 79
51,000 52,000 43 94
52,000 53,000 50 108
53,000 54,000 56 123
54,000 55,000 63 137
55,000 56,000 69 151
56,000 57,000 76 165
57,000 58,000 82 180
58,000 59,000 89 194
59,000 60,000 95 209
60,000 62,000 105 230
62,000 64,000 118 259
64,000 66,000 131 288
66,000 68,000 144 316
68,000 70,000 158 345
70,000 72,000 171 373
72,000 74,000 184 402
74,000 76,000 197 431
76,000 78,000 210 459
78,000 80,000 223 488
80,000 85,000 246 538
85,000 90,000 278 610
90,000 95,000 311 682
95,000 100,000 344 753
100,000 110,000 393 861
110,000 120,000 458 1,004
120,000 130,000 524 1,147
130,000 140,000 589 1,291
140,000 150,000 654 1,435
150,000 160,000 720 1,578
160,000 170,000 785 1,721
170,000 180,000 850 1,865
180,000 190,000 916 2,008
190,000 200,000 981 2,151
200,000 210,000 1,046 2,295
210,000 220,000 1,112 2,438
220,000 230,000 1,177 2,581
230,000 240,000 1,243 2,725
240,000 and up 1,308 2,868
Fair Market Value of Electric
Automobile Tax Year During Lease
Over Not Over 3rd 4th 5th and later
$45,000 $46,000 11 12 12
46,000 47,000 33 37 42
47,000 48,000 54 63 72
48,000 49,000 74 89 101
49,000 50,000 96 114 131
50,000 51,000 118 139 160
51,000 52,000 139 165 189
52,000 53,000 160 190 219
53,000 54,000 181 216 248
54,000 55,000 202 242 277
55,000 56,000 224 267 307
56,000 57,000 245 293 337
57,000 58,000 266 318 367
58,000 59,000 288 343 396
59,000 60,000 309 369 425
60,000 62,000 341 407 470
62,000 64,000 383 459 528
64,000 66,000 425 510 587
66,000 68,000 469 560 646
68,000 70,000 510 612 705
70,000 72,000 554 662 764
72,000 74,000 596 713 823
74,000 76,000 638 765 881
76,000 78,000 682 815 940
78,000 80,000 724 866 1,000
80,000 85,000 798 956 1,103
85,000 90,000 905 1,083 1,250
90,000 95,000 1,011 1,211 1,397
95,000 100,000 1,118 1,338 1,544
100,000 110,000 1,277 1,529 1,766
110,000 120,000 1,490 1,785 2,060
120,000 130,000 1,703 2,040 2,354
130,000 140,000 1,915 2,295 2,649
140,000 150,000 2,127 2,551 2,943
150,000 160,000 2,340 2,806 3,237
160,000 170,000 2,553 3,061 3,532
170,000 180,000 2,766 3,315 3,827
180,000 190,000 2,979 3,570 4,122
190,000 200,000 3,192 3,826 4,416
200,000 210,000 3,404 4,081 4,711
210,000 220,000 3,617 4,336 5,005
220,000 230,000 3,830 4,591 5,300
230,000 240,000 4,042 4,846 5,594
240,000 and up 4,255 5,102 5,888
SECTION 5. EFFECTIVE DATE
This revenue procedure applies to passenger automobiles (other than leased passenger automobiles) that are first placed in service by the taxpayer during calendar year 2006, and to leased passenger automobiles that are first leased by the taxpayer during calendar year 2006.
SECTION 6. DRAFTING INFORMATION
The principal author of this revenue procedure is Bernard P. Harvey of the Office of Associate Chief Counsel (Passthroughs & Special Industries). For further information regarding the depreciation limitations and lessee inclusion amounts in this revenue procedure, contact Bernard P. Harvey at (202) 622-3110 (not a toll- free call).
- Institutional AuthorsInternal Revenue Service
- Code Sections
- Subject Areas/Tax Topics
- Jurisdictions
- LanguageEnglish
- Tax Analysts Document NumberDoc 2006-5263
- Tax Analysts Electronic Citation2006 TNT 53-9
