In 2011,Sean Incurs $90,000 of Mining Exploration Expenditures,and Deducts the Entire

question 6

Multiple Choice

In 2011,Sean incurs $90,000 of mining exploration expenditures,and deducts the entire amount for regular income tax purposes.Which of the following statements is correct?

• A) For AMT purposes, Sean will have a positive adjustment of $81,000 in 2011.
• B) Sean will have a negative AMT adjustment of $9,000 in 2016.
• C) Over a 10-year period, positive and negative adjustments will net to zero.
• D) Only a. and c. are correct.
• E) a., b., and c. are correct.

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Definitions:

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