What is erin''s tax preference for excess depletion, Accounting Basics

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What is erin''s tax preference for excess depletion

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?

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Accounting Basics: What is erin''s tax preference for excess depletion

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Accounting Basics: What is erin''s tax preference for excess depletion

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Accounting Basics: What is erin''s tax preference for excess depletion

Reference No:- TGS088572

Recent Questions Asked Accounting Basics

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