LO.6 Dimitri owns a gold mine that qualifies for a 15% percentage depletion rate. The basis of
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LO.6 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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Related Book For 
Essentials Of Taxation Individuals And Business Entities 2019
ISBN: 9780357233290
1st Edition
Authors: William A Raabe, James C Young
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