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:

Umbilical Cord

A flexible cord-like structure containing blood vessels and attaching a mammal fetus to the placenta during gestation.

Extraembryonic Membrane

Membranes outside the embryo that contribute to the developing embryo's life support system in various ways, such as gas exchange and waste management.

Placenta

An organ that develops in the uterus during pregnancy, providing oxygen and nutrients to and removing waste from the developing fetus through the umbilical cord.

Human Embryo

The early developmental stage of humans following conception and prior to fetal development.