Question: What is the primary difference between the lease-value rule and the commuter rule as they pertain to the valuation of a company car fringe benefit?

What is the primary difference between the lease-value rule and the commuter rule as they pertain to the valuation of a company car fringe benefit?

Multiple Choice

The commuter rule considers all mileage driven as personal.

The lease-value rule is only for internal company use.

The commuter rule forbids personal use of the company vehicle.

The lease-value rule must be used for IRS reporting.

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