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Which of the Following Statements Is False with Respect to the Standard

Question 2

Multiple Choice

Which of the following statements is false with respect to the standard mileage rate?


A) The standard mileage rate encompasses depreciation.
B) Section 179 cannot be used on a standard mileage rate auto.
C) The taxpayer can have an unlimited number of autos and use the mileage rate.
D) The standard mileage rate cannot be used on a taxi.

Correct Answer:

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