Problem 8-10 Modified Accelerated Cost Recovery System (MACRS), Listed Property, Limitation on Depreciation of Luxury Automobiles (LO8.2,8.4,8.5) expense under section 179. Click here to access the depreciation table and click here to access the annual automobile depreciation limitations. Calculate Jay's depreciation deduction for 2021 assuming bonus depreciation. x Feedback Check My Work perceived abuse of the tax system, Congress enacted special rules which apply to the depreciation of "listed property." in the year placed in service. Any bonus depreciation taken must reduce the depreciable cost of the asset. claimed on a passenger automobile is subject to an annual dollar limitation. *Additional bonus depreciation of $8,000 is included in this amount. TABLE 8.2 ACCELERATED DEPRECIATION FOR PERSONAL PROPERTY ASSUMING *Switch to straight-line depreciation