Tax Reporting of Oil and Gas Investments: Royalty Income, Cost vs. Percentage Depletion, Excess IDC
A live 110-minute CPE webinar with interactive Q&A
This webinar will provide an overview of the terminology, income, and deductions most often reported to investors in oil and gas and similar industries. Our knowledgeable presenter will explain the types of royalties, methods of depletion, and scouring the K-1 for deductions for these investors.
- Difference between royalties and working interests
- How to handle royalty income (and how not to)
- The depletion deduction – cost depletion versus percentage depletion
- Oil and gas investments through a Schedule K-1
- Capturing all reported deductions
- What is “excess IDC” and why it is usually not an AMT preference item
The panel will cover these and other critical issues:
- Types of royalty income and relative deductions
- When 15 percent depletion can and should be used
- Calculating percentage and cost depletion
- Reviewing Schedule K-1 for cost-saving deductions
- Key differences between working interests and royalty interests
S. Kathryn Kucera
S Kathryn Kucera, CPA
Ms. Kucera focuses on individual income tax returns that are complex and data-intensive. She prepares most types of tax... | Read More
Ms. Kucera focuses on individual income tax returns that are complex and data-intensive. She prepares most types of tax returns, including income tax returns for individuals, trusts, partnerships, LLCs, S-corporations, and private foundations. Ms. Kucera can also assist with state income tax returns, sales tax filings, franchise tax returns, and a variety of others.Close
CPE credit processing is available for an additional fee of $39.
CPE processing must be ordered prior to the event. See NASBA details.
Cannot Attend February 9?
CPE credit is not available on downloads.