Oil - depletion

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  • ChEAr$
    Senior Member
    • Dec 2005
    • 3872
    #1

    Oil - depletion

    allowance was/used to be/what I used last year..... 15%.

    What is it now? I see on TTB page 9-21 which mirrors publication 535 everything listed
    BUT oil. Closest reference is to oil shale, at 15%.

    Who can help this non Texan!?
    ChEAr$,
    Harlan Lunsford, EA n LA
    Tags: None
    • Jiggers
      Senior Member
      • Sep 2005
      • 1973
      #2
      Oil & Gas Depletion

      Originally posted by ChEAr$
      allowance was/used to be/what I used last year..... 15%.

      What is it now? I see on TTB page 9-21 which mirrors publication 535 everything listed
      BUT oil. Closest reference is to oil shale, at 15%.

      Who can help this non Texan!?
      CCH U S Master Tax Guide shows 15% depletion for independent producers and royalty owners.
      Jiggers, EA

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