In 2012, Sean Incurs $90,000 of Mining Exploration Expenditures, and Deducts

Multiple Choice

In 2012, Sean incurs $90,000 of mining exploration expenditures, and deducts the entire amount for regular income tax purposes.Which of the following statements is correct?

A) For AMT purposes, Sean will have a positive adjustment of $81,000 in 2012.
B) Sean will have a negative AMT adjustment of $9,000 in 2017.
C) Over a 10-year period, positive and negative adjustments will net to zero.
D) Only a.and c.are correct.
E) a., b., and c.are correct.