The National Association of Tax Professionals

The National Association of Tax Professionals


  • Topic(s): Federal Tax Law
  • Presenter(s): Jaye E. Tritz
  • Session#: 934-19
  • Session Length: 100 min
  • Program: NATP National Conference 2014
  • Date: Aug 11, 2014
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Depletion - Details:

While many tax professionals are familiar with depreciation of assets, not many are well-versed in depletion. This advanced-level session gives you a working knowledge of what assets and resources are subject to depletion, the methods of calculating depletion, how to report the depletion deduction, and the AMT treatment of depletable assets. Coverage of this topic focuses on two areas: timber sales and mineral property, such as gas, oil, and mineral deposits (including the extraction of natural gas through hydraulic fracking).