Oil & Gas Working Interest Tax Deductions 2026: IDC, Depletion, and the Real Risks
A working guide to oil and gas working interest tax deductions for U.S. investors: intangible drilling costs (IDC), tangible cost depreciation, cost vs percentage depletion, the Section 469 passive-loss exception, AMT and self-employment tax exposure, plus the dry-hole, illiquidity, and promoter-fraud risks that come with the write-off.