Which of the following is a true statement regarding "listed" property?

A

If a taxpayer uses an automobile 40% for business driving

and 60% for personal driving, his or her Section 179

expensing allowance is limited to 40% of the regular

maximum allowance.

B

Lessees of luxury business autos must include in gross

income an "inclusion amount."

C

No depreciation deductions may be claimed on a corporateowned

automobile to the extent that it is used by a morethan-

5% shareholder.

D Taxis are considered listed property