Automobile Expenses

Additional Child Tax Credit Accelerated Cost Recovery System (ACRS) Actual Expenses (Regular Method) Adjusted Basis Adoption Credit Amount Realized Active Participation Anti-Churning Rules At-Risk Rules Adjustment to Income Alternative Minimum Tax (AMT) Adjusted Gross Income (AGI) Accrued Interest Accounting Method Accelerated Depreciation Amortization Acquisition Debt Accounting Period Advance Earned Income Credit Active Participant Advance Payments Alimony Payments Annuitant Accrual Method of Accounting Asset Annuity Starting Date Automobile Expenses Audit Away From Home Overnight Annualized Income Amended Return Accountable Plan Annuity Average Basis

Definition of Automobile Expenses:

Refers to those automobile expenses that are tax deductible. These expenses include automobile related expenses (gas, oil, insurance, etc.) when the automobile is used for business, moving, charity and/or medical reasons. You can use either the actual cost method or the standard mileage rate to determine the amount deductible.