Any depletion deduction allowable is the amount so computed minus Federal depletion claimed. If Oklahoma options are exercised, the Federal depletion not used due to the 65% limit may not be carried over.
A complete detailed schedule by property must be furnished. If you are mailing your return, be sure to include the schedule with your return. If you are e-filing your return, retain the schedule in your records for three years in case the Oklahoma Tax Commission requests it.
Lease bonus received is considered income subject to depletion.