[Harvey Specter]

In this case you could do a tax free exchange and not have to pay taxes until you disposed of the trade in. The basis will transfer to the new vehicle, so you couldn't depreciate it in this case, because you already would have taken the 179. It is most commonly done with real estate, but you can do it for all sorts of business assets, even businesses themselves. There are some specific requirements that must be fulfilled though in order for it to be legitimate.