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PM's senior home editor has the answer.

Roy asks Roy! I knew this day would come.

Yes, you can use an impact driver. The important thing is the drill bit. You can make small holes in light-gauge steel and soft wood with an impact driver using a standard hex-shank drill bit, but if you want to make holes larger than ¼ inch in heavy steel, hardwood, or pressure-treated lumber, you need a bit rated specifically for an impact driver. Otherwise it will either snap or detach from its hex shank.

This appears in the July/August 2017 issue