Volvo XC60
$48,000-$70,000
Can You Write Off Volvo XC60?
Short answer: Partly: Volvo's midsize SUV is under the heavy-vehicle line; the XC90 is the heavier sibling.
Under 6,000 lbs GVWR it's a passenger car, so first-year depreciation is capped at roughly $20,000 with bonus depreciation for 2026, and only the business-use share counts; the 72.5¢ mileage rate is the simpler option.
Records to keep: Keep the purchase contract, the door-jamb GVWR sticker photo, and a mileage log showing business vs personal miles.
Volvo XC60
Typical range: $48,000-$70,000
General Business
Partly: Volvo's midsize SUV is under the heavy-vehicle line; the XC90 is the heavier sibling.
Business justification
Partly: Volvo's midsize SUV is under the heavy-vehicle line; the XC90 is the heavier sibling. Under 6,000 lbs GVWR it's a passenger car, so first-year depreciation is capped at roughly $20,000 with bonus depreciation for 2026, and only the business-use share counts; the 72.5¢ mileage rate is the simpler option.
Category
- Vehicles by Model