The U.S. IRS updated the Instructions for Form 4562 (2022) - Depreciation and Amortization (Including Information on Listed Property), dated 7 January 2023. The "What's New" section of the instructions notes the following, including the maximum section 179 deduction (immediate expense) limit.

---

What's New

Section 179 deduction dollar limits.

For tax years beginning in 2022, the maximum…

Continue Reading