In 2016, Geoff incurred $900,000 of mine and exploration expenditures. He elects to deduct the expenditures as
Question:
a. How will Geoff's treatment of mine and exploration expenditures affect his regular income tax and AMT computations for 2016?
b. How can Geoff avoid having AMT adjustments related to the mine 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 Individual Income Taxes 2017
ISBN: 9781305873988
40th Edition
Authors: William H. Hoffman, David M. Maloney, William A. Raabe, James C. Young, Nellen
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