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:

Confused

A state of being bewildered or unclear in one’s mind about something.

Distressed

Experiencing anxiety, sorrow, or pain; often used to describe situations, individuals, or assets under severe stress.

Peripheral Vision

That portion of vision that occurs outside the very center of gaze, allowing humans to detect movement and shapes not in the direct line of sight.

Sclera

The white or sclerotic outer coat of the eye.