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February 7, 2022
Question

For oil and gas income property, where do I find my ownership percentage?

  • February 7, 2022
  • 1 reply
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For oil and gas income property, where do I find my ownership percentage?

1 reply

JohnB5677
February 7, 2022

Here are some facts about % the depletion.

 

Generally, the rate is 15% for oil and gas properties applied to gross receipts. 

 

Basic Tax Reporting Oil- and-Gas Royalties: 1099-MISC Royalties

 

 

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