Bonus Depreciation 2024 Irs. The election must be made by filing a statement with form 4562, “depreciation and amortization,” by the due date, including extensions, of the federal tax return for the taxable year in which the qualified property is placed in service by the taxpayer. To make the tax filing process easier, taxact®.

Though the amount a taxpayer is able to deduct in the first year is. Extension of 100% bonus depreciation.