The AMT adjustment for mining exploration and development costs can be avoided if the taxpayer elects to deduct the expenditures in the year incurred for regular income tax purposes, rather than writing off the expenditures over a 10-year period for regular income tax purposes
a. True
b. False
Indicate whether the statement is true or false
False
RATIONALE: The AMT adjustment for mining exploration and development costs can be avoided if the taxpayer elects to write off the expenditures over a 10-year period rather than deducting the cost in the year incurred for regular income tax purposes.
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