Amortize intangible drilling costs

[todd1961]

How do I continue to amortize my intangible drilling costs in Turbo Tax after I sold the oil well?

I did not receive a K-1 for 2023 since I sold teh well in 2022.

thanks,

[Mike9241]

amortization stops with the sale so tax reporting for the remaining IDC should have been with your 2022 return

the k-1 you received and supplemental information should have provided guidance on the handling of the unamortized IDC

see this thread especially section 6

https://www2.deloitte.com/content/dam/Deloitte/global/Documents/Energy-and-Resources/dttl-er-US-oila...