An oil and gas partnership incurred $230,000 of intangible drilling and development costs. Are these costs part

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An oil and gas partnership incurred $230,000 of intangible drilling and development costs. Are these costs part of the ordinary income of the partnership, or are the costs treated as separately stated items?

Posted Date: Nov 22, 2021 05:27 PM

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An oil and gas partnership incurred $230,000 of intangible drilling and development costs. Are these costs part

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As the cost has been incurred related to the drilling and development cost for the oil and gas ... View the full answer

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