Section 179 Deduction 2024 Vehicles. Section 179 is a tax deduction that allows businesses to deduct the full purchase price of qualifying equipment and vehicles in the year they are placed into service. Section 179 of the irs tax code allows businesses to deduct the full purchase price of qualifying equipment and vehicles purchased or financed during the tax year.
Section 179 vehicles for 2024. In 2024 (taxes filed in 2025), the section 179 deduction is $1,220,000.