Which of the Following Items Are Tax Preference Items for Purposes

question 8

Multiple Choice

Which of the following items are tax preference items for purposes of arriving at alternative minimum taxable income?

• A)excess intangible drilling costs on oil and gas properties
• B)interest income earned on federal obligations
• C)all depreciation claimed on pre-1987 real property acquisitions
• D)excess of net long-term capital gains over short-term capital losses

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Definitions:

Agricultural Advancements

Refers to the significant improvements in farming techniques and technologies that increase food production.

War Of 1812

A military conflict between the United States and Great Britain from 1812 to 1815, largely over issues of trade restrictions and impressment of American sailors.

Civil War

An internal conflict within a country, fought between factions or regions that seek to control the entire country or achieve independence.

Creeks

A Native American people from the southeastern United States, also known as the Muscogee.