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 being expensed in the year incurred for regular income tax purposes.

Question

Quizplus · Accepted Answer

This is true. Taxpayers have the option to elect to amortize mining exploration and development costs over a 10-year period in order to avoid the AMT adjustment.

The AMT Adjustment for Mining Exploration and Development Costs Can