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Sachin owns a platinum mine with a basis of $30,000,000 and estimated reserves of 1,500,000 grams of platinum. He extracted 90,000 grams and sold 150,000
Sachin owns a platinum mine with a basis of $30,000,000 and estimated reserves of 1,500,000 grams of platinum. He extracted 90,000 grams and sold 150,000 at $35 per gram in 2020. Sachins taxable income before the depletion deduction is $2,000,000. What is Sachins percentage depletion deduction in 2020?
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