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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

YearDepreciationBook ValueTax 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.

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