Irs Bonus Depreciation 2024. Previously, only 50% could be deducted this way, but the act changed. Under the new proposed rules, if a taxpayer itself manufactures, constructs, or produces property for use in its trade or business or for its production of income, the additional first year depreciation deduction is allowed if the taxpayer begins manufacturing,.

The irs also has increased the penalty for. Treasury and the irs issued bonus depreciation final regulations that substantially modified the previous proposed regulations in four areas.