A Taxpayer Who Uses the Automatic Mileage Method for the Business

question 83

True/False

A taxpayer who uses the automatic mileage method for the business use of an automobile can change to the actual cost method in a later year.

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Definitions:

Values of Variables

The specific amounts or categories that variables can take on in data collection and analysis.

Numeric Value

A quantitative measure expressed as a number, which represents a specific quantity or amount.

Yearly Earnings

The total amount of money earned by an individual or entity in one year, often before taxes.

Distribution

A statistical term that describes the way values are spread out or distributed across a dataset.