_____ 14.Automobiles are subject to specific limitations on the amount of annual depreciation deductions.

Question

Quizplus · Accepted Answer

This is true - automobiles used for business purposes are subject to specific limitations on the amount of annual depreciation deductions that can be taken. The depreciation deductions must be spread out over several years and the amount that can be deducted in any given year depends on the vehicle's cost, the business use percentage, and the year in which the vehicle was placed into service.

_____ 14Automobiles Are Subject to Specific Limitations on the Amount of of Annual