Checkpoint Learning

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Oil and Gas Taxation - Depreciation and Depletion   New

CATEGORY: Taxation
COURSE ID: CL2OIL, VERSION 1.00
  Online & Mobile
1 CPE Credits

This is the second course in a series providing a comprehensive presentation of oil and gas taxation. It focuses on developing in-depth knowledge, skill, and application. This course presents the computation of depreciation on lease and well equipment and percentage depletion deduction on capitalized leasehold costs. Additional limitations imposed on percentage depletion deductions due to the related party rules are presented. The course delves further into the prohibition of percentage depletion for retailers and refiners and certain proven property transfers. Lastly, it discusses the 65 percent taxable income limitation. This course is most appropriate for the professional with detailed knowledge in federal income taxation who may be at a mid-level position within an organization or a seasoned professional with limited exposure to this topic.

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