Oil - depletion - TMI Message Board

ChEAr$

Senior Member

Join Date: Dec 2005

Posts: 3872
#1

Oil - depletion

03-30-2009, 11:28 AM

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
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Jiggers

Senior Member

Join Date: Sep 2005

Posts: 1973
#2

03-30-2009, 12:29 PM

Oil & Gas Depletion

Originally posted by ChEAr$ View Post

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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