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Tax - Intermediate Vehicle Expense [2019] _ 19 Chris Cruz has decided to start a taxi company and has purchased 7 passenger vehicles. He has

Tax - Intermediate Vehicle Expense [2019] _
19 Chris Cruz has decided to start a taxi company and has purchased 7 passenger vehicles. He has hired 15 drivers so that he can keep all of the vehicles on the road at all times. What are his options for vehicle expenses?
A.- Chris can use SMR for up to four of the vehicles, but he will have to use actual expenses for the other three.
B.- Chris must use actual expenses for all of the vehicles.
C.- Chris can make a different decision for each vehicle.
D.- Chris will have use SMR in the first year, so that he can choose SMR or actual expenses in future years.
20 Josh uses his 2014 Dodge Caravan in his landscaping business. He also has a rental property about 100 miles away that he goes to once a month. He uses actual expenses. What forms will report expenses for the van?
A.- Schedule C and Form 4562.
B.- Schedule E and Form 4562.
C.- Schedule C, Schedule E, and Form 4562.
D.- Form 4562.

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