Screen AROGCost - Arkansas Oil and Gas Cost Center Information (1040)

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Overview

This screen is (except for AMT-related fields) identical to the federal OGCost Screen and is used to calculate the Arkansas Oil and Gas Well Schedule.

Oil/Gas Cost Center General Information

Except for AMT-related fields, all fields on this screen are identical to the federal OGCost Screen.

Oil/Gas Cost Centers

Except for AMT-related fields, all fields on this screen are identical to the federal OGCost Screen. Where federal depreciation and Section 179 expense appears on the associated federal screen, Arkansas specific depreciation and Section 179 expense appears within the
Overhead depreciation and Section 179
statement dialog on this screen. This screen is used to complete the Arkansas Oil and Gas Well Schedule (OilWell). Additionally, Worksheet IncLimit, Arkansas Business and Taxable Income Limitation Worksheet, displays the taxable income before gross percentage depletion used on the Arkansas Oil and Gas Well Schedule, line 29. The taxable income before gross depletion amount may differ from the federal amount as Arkansas specific depreciation, for example, is used in the calculation.
Overhead depreciation and Section 179
Arkansas specific depreciation and Section 179 expense appears within this statement dialog.

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