Which of the following would not be a positive tax preference item in 2010?

Question

Quizplus · Accepted Answer

Private activity bond interest income is not a positive tax preference item in 2010. Positive tax preference items are those that allow taxpayers to reduce their taxable income below their adjusted gross income. Private activity bond interest income is subject to the alternative minimum tax (AMT) and does not qualify for any special tax treatment. Therefore, it is not a positive tax preference item. Accelerated depreciation on real property, intangible drilling costs, and percentage depletion in excess of adjusted basis are all positive tax preference items.

Which of the Following Would Not Be a Positive Tax