Dimitri owns a gold mine that qualifies for a 15% percentage depletion rate. The basis of the
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Dimitri owns a gold mine that qualifies for a 15% percentage depletion rate. The basis of the property at the beginning of the year, prior to any current-year depletion deduction, is $21,000. Gross income from the property for the year is $200,000, and taxable income before depletion is $65,000. What is Dimitri’s AMT depletion preference?
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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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