Oil - depletion

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  • Jiggers
    replied
    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.

      Leave a comment:

    • ChEAr$
      started a topic Oil - depletion

      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!?
      Tags: None
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