Once a Taxpayer Uses the Standard Mileage Method to Determine

question 37

True/False

Once a taxpayer uses the standard mileage method to determine the deduction for automobile expenses for the tax year, the standard mileage method must be used in all subsequent years.
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Definitions:

Gypsum Formation

A geological process leading to the creation of gypsum, a mineral used in building materials and fertilizers, through the evaporation of mineral-rich water.

Calcium Carbonate

A chemical compound (CaCO3) found in rocks as the minerals calcite and aragonite and is the main component of pearls, shells of marine organisms, snails, and eggs.

Seawater

The salty water that fills the oceans and seas, composed of a complex mixture of dissolved minerals and organic compounds.

Chert Formation

The process by which chert, a hard, sedimentary rock composed primarily of silicon dioxide, is formed, typically from the accumulation of silica from biological sources or chemical precipitation.