Individuals or investors in extractive industries (mining or drilling natural resources) may take an immediate deduction for certain exploration and development costs. For a more detailed description of this tax expenditure, see corporate excise item 2.309; the provisions for individual taxpayers are somewhat more liberal than those that apply to corporations.

Origin: IRC §§ 263(c), 616 and 617 in effect January 1, 1985

Item Number
FY2017
FY2018
FY2019
FY2020
FY2021
1.308
Negligible
Negligible
Negligible
Negligible
Negligible
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