What Is Bonus Depreciation 2024 Tax Return. For example, if you purchased a $500,000 multifamily property, and the land value is $100,000, the depreciable amount would be $400,000. Bonus depreciation deduction for 2023 and 2024.
Bonus depreciation is a tax incentive that allows a business to immediately deduct a large percentage of the purchase price of eligible assets, such as machinery, rather than write them off. You can then deduct 60% of the remaining $200,000 ($500,000 โ $300,000),.