SUV tax break law

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tncattle

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Tennessee
I remember reading about this a few years back. Is it still the same or has it been changed? Has anyone out there used it for a tax break? Does it only apply to new trucks?
 
I bought a used truck a few years ago. Only 1600 miles on it. If I remember correctly, accountant had some question whether or not he could do the deduction. In the end he did due to low mileage. Personally, I don't see why it should matter other than encourage you to buy new.
 
There are some restrictions. I don't know all of them but the one I remember is that the vehicle has to weigh over 6000 lbs (empty) so I don't think you can go out and buy a Suburban and deduct it off your taxes.

I am taking the deduction on my GMC Duramax if that's any help to you. I have the rules somewhere and I will publish them if I can find them.
 

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