Once the Actual Cost Method Is Used, a Taxpayer Cannot

question 46

True/False

Once the actual cost method is used, a taxpayer cannot change to the automatic mileage method in a later year.

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Definitions:

Parallel

A type of computing or processing where multiple processes or circuits run at the same time, increasing speed and efficiency.

NOT Function

A logical operation that inverts its input; if the input is true, the output is false, and vice versa.

AND Function

A logical operation that returns true only if all the operands are true.