A Used $35,000 Automobile That Is Used 100% for Business

question 29

True/False

A used $35,000 automobile that is used 100% for business is placed in service in 2016.If the automobile fails the 50% business usage test in the second year,no cost recovery will be recaptured.

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Definitions:

Fourteenth Amendment

The Fourteenth Amendment to the U.S. Constitution grants citizenship to all persons born or naturalized in the U.S. and ensures equal protection under the law.

Obergefell v. Hodges

A landmark Supreme Court case in 2015 that legalized same-sex marriage across all United States, affirming marriage equality.

Full Faith

A phrase often used in legal contexts, especially in the "Full Faith and Credit Clause" of the U.S. Constitution, referring to the obligation of states to recognize the public acts, records, and judicial proceedings of every other state.

Privileges and Immunities

The rights and protections guaranteed by a state to its citizens and, in some cases, to residents, against discrimination from other states.