What is erin tax preference for excess depletion

+1-415-670-9521
+1-415-670-9521
[email protected]

What is erin tax preference for excess depletion

Reference no: EM13142392

Erin owns a mineral property that had a basis of $10,000 at the beginning of the year. The property qualifies for a 15% depletion rate. Gross income from the property was $120,000 and net income before the percentage depletion deduction was $50,000. What is Erin's tax preference for excess depletion?

A) $8,000

B) $10,000.

C) $18,000.

D) $0.

E) None of the above.

Reference no: EM13142392

Reviews

Write a Review

Message

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

User Account

All Pages