Under the actual cost method, which, if any, of the following expenses will not be allowed?
A) Car registration fees.
B) Auto insurance.
C) Interest expense on a car loan (taxpayer is an employee).
D) Dues to auto clubs.
E) All of these will be allowed.

Question

Quizplus · Accepted Answer

Interest expense on a car loan is not deductible for employees under the actual cost method.

Under the Actual Cost Method, Which, If Any, of the Following