|
|
|
|
|
|
by guan
2468 days ago
|
|
|
For land producing minerals, there is a special tax rule called “percentage depletion” available to some taxpayers. With percentage depletion, the owner can deduct a fixed percentage (15%) of gross income every year. This can add up to more than the original amount invested in an oil field. Normally, the depreciation allowance for capital investment over a period of years can only add up to the amount originally invested. |
|
|