Section 179 Bonus Depreciation 2024 Limit. Property owners who extended their 2023 tax filing in hopes of the return of 100% bonus depreciation should move forward using the two options available to. This limit is reduced by the amount by which the cost of section 179 property placed in service during the tax.

After reaching the section 179 limit, apply bonus depreciation to the remaining cost of eligible assets. In contrast, bonus depreciation is limited to 80 percent for 2023 (60 percent for 2024).