Which of the following statements is false with respect to the standard mileage rate?
A)The standard mileage rate encompasses depreciation.
B)The taxpayer can have an unlimited number of autos and use the mileage rate.
C)Section 179 cannot be used on a standard mileage rate auto.
D)The standard mileage rate cannot be used on a taxi.

Question

Quizplus · Accepted Answer

The taxpayer can only use the standard mileage rate for up to four autos used simultaneously. Beyond four autos, actual expenses must be calculated instead.

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