Truck Depreciation Calculator
Calculate your truck's annual depreciation, book value, and tax savings using MACRS, Section 179 expensing, or straight-line methods.
Truck Details
Useful Life (years)
Depreciation Method
Federal + state + SE tax estimate
Total Depreciation
$150,000
Depreciation Per Mile
$0.250
Year 1 Deduction
$30,000
Total Tax Savings
$45,000
Depreciation Schedule
| Year | Depreciation | Book Value | Tax Savings |
|---|---|---|---|
| 2026 | $30,000 | $120,000 | $9,000 |
| 2027 | $48,000 | $72,000 | $14,400 |
| 2028 | $28,800 | $43,200 | $8,640 |
| 2029 | $17,280 | $25,920 | $5,184 |
| 2030 | $17,280 | $8,640 | $5,184 |
| 2031 | $8,640 | $0 | $2,592 |
Book Value Over Time
2026$120,000
Deduction: $30,000
2027$72,000
Deduction: $48,000
2028$43,200
Deduction: $28,800
2029$25,920
Deduction: $17,280
2030$8,640
Deduction: $17,280
2031$0
Deduction: $8,640
Estimate only. These figures use general federal rules for 2026 and do not account for your state taxes, credits, or individual circumstances. Verify with a qualified tax professional before making financial decisions.
Frequently Asked Questions
Most owner-operators benefit most from MACRS (Modified Accelerated Cost Recovery System) or Section 179 expensing. MACRS allows larger deductions in the early years when the truck is newest, while Section 179 lets you deduct the full purchase price in year one (up to the IRS limit). Straight-line depreciation spreads the deduction evenly and is simpler but provides less upfront tax benefit.
Under MACRS, semi trucks and tractors used in over-the-road freight are classified as 3-year property, while trailers and most other trucks are 5-year property. However, many trucking businesses use the 5-year MACRS schedule for their trucks. The actual useful life of a well-maintained Class 8 truck can be 10-15 years or 750,000+ miles, but the IRS depreciation schedule is typically shorter.
The 2026 Section 179 deduction limit is $2,560,000, and it phases out dollar-for-dollar once total qualifying purchases exceed $4,090,000. This means you can deduct up to that amount of the purchase price of qualifying equipment (including semi trucks, trailers, and other business vehicles) in the year you put it into service. The truck must be used more than 50% for business purposes to qualify, and the deduction cannot exceed your net business income for the year.
Divide the total depreciable amount (purchase price minus salvage value) by the total expected miles over the truck's useful life. For example, if you paid $150,000 for a truck with a $30,000 salvage value and expect to drive 600,000 miles over 5 years, your depreciation per mile is ($150,000 - $30,000) / 600,000 = $0.20/mile.
Yes, you can depreciate a used truck based on your purchase price (not the original MSRP). The useful life for MACRS purposes remains the same whether the truck is new or used. You can also use Section 179 on used equipment as long as it is new to your business. The key is that you must own the truck and use it for business purposes.