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Question 71 of 75. When a taxpayer buys a new vehicle for business use you should Encourage them to take both the Section 179 deduction

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Question 71 of 75. When a taxpayer buys a new vehicle for business use you should Encourage them to take both the Section 179 deduction and bonus depreciation to benefit on this year's tax return. Explain to them that bonus depreciation is automatically calculated because they should take it. Discourage them from taking a Section 179 deduction because it is rarely beneficial. Discuss how Section 179 and bonus depreciation will effect this year's tax return, as well as future years, and let them decide what is best for them. Mark for follow up Back Save / Return Later Summary Next > Question 68 of 75. To apply expenses of more than one vehicle to a single business use Only the actual expense method may be used. Deduct the expenses using the same method for both. When using the standard mileage, combine the mileage of all vehicles into one entry. Make a separate entry for each vehicle. Mark for follow up Question 63 of 75. A typical example of a passive activity is an interest in a Limited partnership in which the partner does not participate in the business activities. Limited partnership in which the partner participates in the business activities. Limited partnership in which the general partner participates in the business activities. General partnership in which the corporate partner participates in the business activities. Mark for follow up

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