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Pennsylvania Free Printable 2023 PA Schedule I - Amortization of Intangible Drilling and Development Costs (PA20S/PA-65 I) for 2024 Pennsylvania PA Schedule I - Amortization of Intangible Drilling Costs

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PA Schedule I - Amortization of Intangible Drilling Costs
2023 PA Schedule I - Amortization of Intangible Drilling and Development Costs (PA20S/PA-65 I)

IMPORTANT: FILL IN FORM MUST BE DOWNLOADED ONTO YOUR COMPUTER PRIOR TO COMPLETING 2306310059 PA SCHEDULE I Amortization of Intangible Drilling and Development Costs PA-20S/PA-65 I (DR) 04-23 (FI) PA Department of Revenue START 2023 OFFICIAL USE ONLY Name as shown on the PA-20S/PA-65 Information Return FEIN 9 DIGIT - NO DASH ➜ Yes SECTION I. 1 Did the entity have a Geophysical Survey completed for wells created prior to 2014 . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1. or No or No 2 Did the entity elect to currently expense all intangible drilling and development costs (IDCs) under Section 263 (c) of the Internal Revenue Code . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2. 3 Total amount of intangible drilling and development costs incurred during the tax year - from Federal form 1065/1120S, Schedule K, line 13c(2) or 12c . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3. $ SECTION II. Yes 4 Is the entity making the PA election to currently expense up to one-third of the intangible drilling and development costs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4. 5 Amount of intangible development costs expensed for PA . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5. $ address and type of each well. If the well is outside of PA, fill in the oval. SECTION III. Well Description Enter the MM/DD/YYYY (a) (b) (c) (d) (e) (f) Description of Well Date well placed in production IDCs Life of Well Accumulated Amortization PA Deduction of IDCs 6 Amortization of IDCs for wells placed in production for tax years beginning prior to 1/1/2014 (see instructions): Total Amortization Costs for wells placed in production prior to 01/01/14 . . . . 6. MM/DD/YYYY (a) Description of Well $ (b) (c) (d) (e) (f) (g) Date well placed in production IDCs Elected expense Amortizable Amount Accumulated Amortization Amortization for this year 7 Amortization of IDCs for wells placed in production for tax years beginning after 12/31/2013 (see instructions): $ 8 Total Amortization. Add amounts from lines 6 and 7 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8. $ Total Amortization Costs for wells placed in production after 12/31/13 . . . . . . . . 7. 2306310059 RESET FORM TOP OF PAGE 2306310059 NEXT PAGE PRINT THIS PAGE DOES NOT PRINT 2023 Instructions for PA-20S/PA-65 Schedule I Amortization of Intangible Drilling and Development Costs PA-20S/PA-65 I IN (DR) 04-23 GENERAL INFORMATION fuel, repairs and supplies. The entity can elect to deduct only the costs of items with no salvage value. PURPOSE OF SCHEDULE Use PA-20S/PA-65 Schedule I to report the PA S corporations, partnerships or LLC’s deduction of intangible drilling and development costs (IDCs). Pennsylvania does not follow federal election rules for expensing intangible drilling and development costs. SECTION II COMPLETING PA SCHEDULE I BUSINESS NAME Enter the complete name of the entity or business as shown on the PA-20S/PA-65, Information Return. FEIN Enter the nine-digit federal employer identification number (FEIN) of the entity or business as shown on the PA-20S/PA-65, Information Return. LINE INSTRUCTIONS SECTION I LINE 1 For wells created prior to 2014, indicate whether or not the PA S corporation, partnership or LLC had a Geophysical Survey completed. Geophysical Surveys are a systematic collection of geophysical data for spatial studies, collecting data from above or below the Earth’s surfaces. LINE 2 The Pennsylvania Tax Reform Code of 1971, unlike the Internal Revenue Code §263(c), does not contain a provision that allows for expensing of capital expenditures. These include intangible drilling and development costs associated with oil and gas wells or wells drilled for geothermal deposit. Check yes if the entity expensed on the federal return. LINE 3 Enter the total amount of intangible drilling and development costs that the entity incurred during the tax year. These costs represent drilling and development expenses for wells in the United States where the entity has an operating or working interest. These expenses include costs necessary in the drilling and preparation of wells for the production of oil and gas, such as survey work, ground clearing, drainage, wages, LINE 4 This is not a one-time election. A PA S corporation, partnership or LLC may elect each tax year to expense up to one-third of the intangible drilling and development costs that the entity incurs. The PA S corporation, partnership or LLC incurring the drilling and development cost makes the election to expense the intangible drilling and development costs for Pennsylvania personal income tax purposes. Its partners or shareholders cannot make the election. If Line 4, Section II is marked “Yes”, then Line 7(d) of Section III must be completed. LINE 5 Indicate the amount of intangible drilling and development costs that the S Corporation, partnership or LLC is electing to immediately expense in the tax year. Since each well can elect to immediately expense up to one third of intangible drilling and development costs, the amount listed here may not equal one-third of the entity’s total intangible drilling and development costs. The total amount reported on Line 5, Section II should be reported on Schedule M, Part II, Section VI, Line h. SECTION III WELL DESCRIPTION LINE 6 Complete chart for well(s) placed in service prior to 1/1/2014. LINE 6(a) DESCRIPTION OF WELL Enter the location of each well or the name of each well. Description of the well should be same as the description the entity uses for record keeping. LINE 6(b) DATE WELL PLACED IN SERVICE Enter the date that the well was placed into production. www.revenue.pa.gov PREVIOUS PAGE PA-20S/PA-65 I NEXT PAGE PRINT 1 LINE 6(c) LINE 7(c) INTANGIBLE DRILLING AND DEVELOPMENT COST EXPENSE Enter the total amount of the intangible drilling and development costs allocated to each well. INTANGIBLE DRILLING COST EXPENSE Enter the total amount of the intangible drilling and development costs allocated to each well. LINE 6(d) LIFE OF WELL Enter the estimated useful life of the well. Prior to January 1, 2014, Pennsylvania required the intangible drilling and development costs to be amortized over the estimated useful life of each well. LINE 6(e) ACCUMULATED AMORTIZATION Enter the cumulative amount of intangible drilling and development costs amortized in prior years. LINE 6(f) PA DEDUCTION OF IDCS Enter the amortization expense that will be deducted for Pennsylvania personal income tax purposes during the tax year. LINE 7 AMORTIZATION OF IDCS Complete chart for well(s) placed in service after 12/31/2013. LINE 7(a) DESCRIPTION OF WELL Enter the location of each well or the name of each well. Description of the well should be same as the description the entity uses for record keeping. LINE 7(d) ELECTED EXPENSE If Section II, Line 4 is marked yes, enter amount to expense. This amount cannot exceed one-third of the intangible drilling and development costs incurred. LINE 7(e) AMORTIZABLE AMOUNT Subtract Line 7(c) – 7(d). LINE 7(f) ACCUMULATED AMORTIZATION For year well(s) placed in service, this amount will be zero. LINE 7(g) AMORTIZATION FOR THIS YEAR Divide line 7(e) by 10. NOTE: If additional space is required to list wells on Line 6 and 7 of Section III, then please submit additional copies of Schedule I. LINE 8 TOTAL AMORTIZATION Add amounts from Line 6 and Line 7 of Section III. Total amount of amortization reported on Line 8 should be reported on Schedule M, Part II, Section VI, Line c. LINE 7(b) DATE WELL PLACED IN SERVICE Enter the date that the well was placed into production. 2 PA-20S/PA-65 I PREVIOUS PAGE www.revenue.pa.gov RETURN TO PAGE 1 PRINT
Extracted from PDF file 2023-pennsylvania-form-pa-20s-pa-65-i.pdf, last modified August 2014

More about the Pennsylvania Form PA-20S-PA-65 I Corporate Income Tax TY 2023

We last updated the PA Schedule I - Amortization of Intangible Drilling Costs in January 2024, so this is the latest version of Form PA-20S-PA-65 I, fully updated for tax year 2023. You can download or print current or past-year PDFs of Form PA-20S-PA-65 I directly from TaxFormFinder. You can print other Pennsylvania tax forms here.


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Related Pennsylvania Corporate Income Tax Forms:

TaxFormFinder has an additional 174 Pennsylvania income tax forms that you may need, plus all federal income tax forms. These related forms may also be needed with the Pennsylvania Form PA-20S-PA-65 I.

Form Code Form Name
Form PA-20S-PA-65 S Corporation/Partnership Information Return (PA-20S/PA-65)
Form PA-20S-PA-65 Directory PA-20S/PA-65 Directory - Partner/Member/Shareholder
Form PA-20S-PA-65 NRK-1 PA Schedule NRK-1 - Nonresident Schedule of Shareholder/Partner/Beneficiary Pass Through Income, Loss and Credits
Form PA-20S-PA-65 J PA Schedule J - Income from Estates or Trusts
Form PA-20S-PA-65 M PA Schedule M - Reconciliation of Federal-Taxable Income (Loss) to PA-Taxable Income (Loss)
Form PA-20S-PA-65 E PA Schedule E - Rent and Royalty Income (Loss)
Form PA-20S-PA-65 NW PA Schedule NW - Nonresident Withholding Payments PA S Corporations and Partnerships
Form PA-20S-PA-65 RK-1 PA Schedule RK-1 - Resident Schedule of Shareholder/Partner/Beneficiary Pass Through Income, Loss and Credits
Form PA-20S-PA-65 A PA Schedule A - Interest Income
Form PA-20S-PA-65 B PA Schedule B - Dividend and Capital Gains Income

Download all PA tax forms View all 175 Pennsylvania Income Tax Forms


Form Sources:

Pennsylvania usually releases forms for the current tax year between January and April. We last updated Pennsylvania Form PA-20S-PA-65 I from the Department of Revenue in January 2024.

Show Sources >

About the Corporate Income Tax

The IRS and most states require corporations to file an income tax return, with the exact filing requirements depending on the type of company.

Sole proprietorships or disregarded entities like LLCs are filed on Schedule C (or the state equivalent) of the owner's personal income tax return, flow-through entities like S Corporations or Partnerships are generally required to file an informational return equivilent to the IRS Form 1120S or Form 1065, and full corporations must file the equivalent of federal Form 1120 (and, unlike flow-through corporations, are often subject to a corporate tax liability).

Additional forms are available for a wide variety of specific entities and transactions including fiduciaries, nonprofits, and companies involved in other specific types of business.

Historical Past-Year Versions of Pennsylvania Form PA-20S-PA-65 I

We have a total of ten past-year versions of Form PA-20S-PA-65 I in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:


2023 Form PA-20S-PA-65 I

2023 PA Schedule I - Amortization of Intangible Drilling and Development Costs (PA20S/PA-65 I)

2022 Form PA-20S-PA-65 I

2022 PA Schedule I - Amortization of Intangible Drilling and Development Costs (PA-20S/PA-65 I)

2021 Form PA-20S-PA-65 I

2021 PA Schedule I - Amortization of Intangible Drilling and Development Costs (PA-20S/PA-65 I)

2020 Form PA-20S-PA-65 I

2020 PA Schedule I - Amortization of Intangible Drilling and Development Costs (PA-20S/PA-65 I)

2019 Form PA-20S-PA-65 I

2019 PA Schedule I - Amortization of Intangible Drilling and Development Costs (PA-20S/PA-65 I)

2018 Form PA-20S-PA-65 I

2018 PA Schedule I - Amortization of Intangible Drilling Costs (PA-20S/PA-65 I)

2017 Form PA-20S-PA-65 I

2017 PA Schedule I - Amortization of Intangible Drilling Costs (PA-20S/PA-65 I)

2016 Form PA-20S-PA-65 I

2016 PA Schedule I - Amortization of Intangible Drilling Costs (PA-20S/PA-65 I)

Forms/Publications 2015 Form PA-20S-PA-65 I

2015 PA Schedule I - Amortization of Intangible Drilling Costs (PA-20S/PA-65 I)

Forms/Publications 2014 Form PA-20S-PA-65 I

2014 PA Schedule I - Amortization of Intangible Drilling Costs (PA-20S/PA-65 I)


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