Once a U.S. corporation chooses a method to allocate interest expense, either fair market value or tax book value, that election cannot be changed without the permission of the commissioner of the Internal Revenue Service.
A taxpayer can switch from the tax book value method to the fair market value method without permission of the commissioner of the Internal Revenue Service.

Question

Quizplus · Accepted Answer

The Answer is False

Once a US Corporation Chooses a Method to Allocate Interest Expense, Either