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What is Emily tax preference for excess depletion

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Problem - Emily owns a coal mine (basis of $12,000 at the beginning of the year) that qualifies for a 15% depletion rate. Gross income from the property was $140,000, and net income before the percentage depletion deduction was $60,000. What is Emily's tax preference for excess depletion?

Reference no: EM132669528

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