If the Taxpayer Elects to Capitalize and to Amortize Intangible

question 63

True/False

If the taxpayer elects to capitalize and to amortize intangible drilling costs over a 3-year period for regular income tax purposes, there is no adjustment or preference for AMT purposes.

---

Definitions:

Neonatal Intensive

Short for Neonatal Intensive Care Unit (NICU), a specialized unit for the care of ill or premature newborn infants.

Poor Prognosis

A term indicating a likely outcome of a disease or condition is unfavorable or worse than expected.

Spiritual Care

Support provided by healthcare professionals to address the spiritual and religious needs of patients, often involving respect, empathy, and compassion.

Spiritual Person

An individual who engages with or seeks a deeper understanding of the self, life, and the universe through beliefs, practices, or experiences that go beyond material existence.