CCH Axcess Tax

IDC Code (Depletion only)

Use this field only when the Depreciation and Amortization worksheet, Depreciation section is attached to an Rent and Royalty worksheet, Depletion section depletion entity and the depletion property number is entered in the "Depletion Number" field.

Enter a "C" if the intangible drilling costs are also entered on the Rent and Royalty worksheet, Depletion section as IDC expense. The entry on the Rent and Royalty worksheet, Depletion section will be reduced by the cost/other basis entered on this worksheet.

Enter a "P" if the intangible drilling costs are from a prior year and should not reduce IDC expense entered on the Rent and Royalty worksheet, Depletion section.

Regardless of the code entered in this field, the amortized IDC will be carried to the depletion net income statement as an expense of the depletion property.

Valid codes for these fields:

C	Current year preference IDC
P	Prior year preference IDC