Amos incurred and expensed intangible drilling costs (IDC) of $70,000. His net oil and gas income was

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Amos incurred and expensed intangible drilling costs (IDC) of $70,000. His net oil and gas income was $60,000. What is the amount of Amos's AMT preference for IDC?
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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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