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Author Question: Intangible drilling and development costs (IDCs) may be deducted as an expense or may be capitalized. (Read 77 times)

robinn137

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on: Sep 13, 2020

Question 1

A taxpayer owns an economic interest in an oil and gas property.  She is allowed to deduct the smaller of cost depletion or percentage depletion.
◦ true
◦ false

Question 2

Intangible drilling and development costs (IDCs) may be deducted as an expense or may be capitalized.
◦ true
◦ false
Federal Taxation 2017 Individuals ¦ Pope, Rupert, Anderson ¦ 30th Edition
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Marked as best answer by robinn137 on Sep 13, 2020

fatboyy09

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Reply #1 on: Sep 13, 2020
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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robinn137

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Reply 2 on: Sep 13, 2020
:D TYSM

Liddy

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

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