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:

Egocentric

Pertaining to an individual's tendency to perceive, understand, and interpret the world primarily in relation to oneself.

Selman

This term alone lacks context but could refer to Robert Selman, a psychologist known for his work in the development of social awareness in children.

Depth

The quality of being profound or having significant meaning, or in spatial contexts, the distance from the surface or top to the bottom.

Friendships

Mutual relationships between two or more people, characterized by trust, affection, and support.