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For Tax Year 2019, Taylor Used the Simplified Method of Determining

question 41

True/False

For tax year 2019, Taylor used the simplified method of determining her office in the home deduction.For 2020, Taylor must continue to use the simplified method and cannot switch to the regular (actual expense) method.


Definitions:

Secondary Data

Information that has been previously collected for other purposes, but is being utilized for a current research project or analysis.

Alternative Purposes

Uses for an item, service, or space that differ from its originally intended or most common use.

Information Collected

Data or facts obtained through research, observation, or documentation that are used for analysis or decision-making.

Taking Action

The phase of implementing strategies or decisions in order to achieve specific objectives.

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