An alternative minimum tax applies to items that are considered to be of a tax preference nature. Which of the following items is not considered to be a tax preference item?
A) Tax-exempt bond interest issued by a school system
B) Accelerated depreciation on real property acquired before 1987
C) Mining exploration and development costs
D) Gain on the sale of certain small business stock
E) Depletion
Correct Answer:
Verified
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