Geoff incurred $900,000 of mining and exploration expenditures. He elects to deduct the expenditures as quickly as
Question:
a. How will Geoff's treatment of mining and exploration expenditures affect his regular income tax and AMT computations for the year?
b. How can Geoff avoid having AMT adjustments related to the mining and exploration expenditures?
c. What factors should Geoff consider in deciding whether to deduct the expenditures in the year incurred?
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Related Book For
South-Western Federal Taxation 2018 Comprehensive
ISBN: 9781337386005
41st Edition
Authors: David M. Maloney, William H. Hoffman, Jr., William A. Raabe, James C. Young
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