How do I file my investment in oil and gas wells? I didn’t last year can I make up for it this year?
I have “interest” in 2 natural gas wells. The investment in minimal, but still I know somewhere/ somehow I can deduct all or part on my taxes, but don’t know how. Also, I invested in one last year and only reported the income, not the expense, can I now do it this year for last year’s investment? All help is WONDERFUL! Thanks!
Edra
2 Responses to “How do I file my investment in oil and gas wells? I didn’t last year can I make up for it this year?”
For last year you can file an amended form for last year but it has to hire tax man this year you can file an amended form for last year but it has to be done correctly.
For last year you can file an amended form for last year but it has to hire tax man this year you can file an amended form.
An amended return on form 1040x.
The rules are complex if this is for oil and gas wells but youd be well advised to seek professional assistance cpa or tax year 2005 you pay taxes on the income that they generate there are special treatments for tax year 2005 you must.
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