Which of the Following Would Not Be a Positive Tax

question 95

Multiple Choice

Which of the following would not be a positive tax preference item in 2010?

• A) Accelerated depreciation on real property in excess of straight-line.
• B) Intangible drilling costs.
• C) Private activity bond interest income.
• D) Percentage depletion in excess of adjusted basis.
• E) None of the above.

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Definitions:

State Law

Regulations and statutes enacted by the legislative bodies of individual states, different from federal laws.

Trial Court

The first level of court in the judicial system where cases are heard, evidence is presented, and judgments or verdicts are initially made.

Appellate Court

A court that reviews and potentially revises the decisions of a lower court, focusing on errors of law rather than fact.

Venue

The place or geographic location where a legal case is tried or a contract is to be executed.