Series 22: Intangible Drilling Costs (IDCs)

Taken from our Series 22 Top-off Online Guide

Intangible Drilling Costs (IDCs)

Intangible drilling costs are expenses related to drilling and preparing oil and gas wells that have no salvage value. They include wages, fuel, rental, repairs and hauling of equipment, supplies related to drilling, and development work done by contractors. They are tax deductible only for t

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Solomon Exam Prep Study Materials for the Series 22
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