A taxpayer engaged in two or more separate and distinct businesses may use diﬀerent accounting methods for both businesses.

Name: A taxpayer engaged in two or more separate and distinct businesses may use diﬀerent accounting methods for both businesses.
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Question

Quizplus · Accepted Answer

According to the IRS, a taxpayer engaged in multiple businesses may use different accounting methods for each business as long as they are considered separate and distinct.

A Taxpayer Engaged in Two or More Separate and Distinct