Series 7 - General Securities Representative Exam

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Oil and gas partnerships (DPPs) have certain tax advantages. Which of the following is NOT a tax advantage of an oil and gas DPP?

Intangible Drilling Costs
A
Tangible Drilling Costs
B
Depletion
C
Royalty Tax Deduction
D
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Explanations

Royalty tax deduction is not a tax advantage of an oil and gas DPP. Depletion, Intangible Drilling Costs, Tangible Drilling Costs ARE tax advantage

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