Question: If an employee or self-employed individual uses the actual method of deducting automobile expenses and claims depreciation for the first two years of business use,

If an employee or self-employed individual uses the actual method of deducting automobile expenses and claims depreciation for the first two years of business use, can the individual switch to the standard mileage rate method for the third year and beyond?

Step by Step Solution

3.33 Rating (165 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock

The taxpayer may not switch to the standard mi... View full answer

blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Document Format (1 attachment)

Word file Icon

638-L-B-L-T-L (2867).docx

120 KBs Word File

Students Have Also Explored These Related Business Law Questions!