Thanks, I now have the oil and gas 1099 info reported on a SCH-C for my wife oil and gas. Now working on the deduction section of that new business SCH-C. I am in the “EXPENSES” section and can you recommend which section to report the “INTANGIBLE DRILLING COSTS”. I currently have listed it under “OTHER EXPENSES” section. I assume the “TANGIBLE” expenses would be put under the “DEPRECIATION” section.
