26 USC 612: Basis for cost depletion
Text contains those laws in effect on January 4, 1995
From Title 26-INTERNAL REVENUE CODESubtitle A-Income TaxesCHAPTER 1-NORMAL TAXES AND SURTAXESSubchapter I-Natural ResourcesPART I-DEDUCTIONS
§612. Basis for cost depletion
Except as otherwise provided in this subchapter, the basis on which depletion is to be allowed in respect of any property shall be the adjusted basis provided in section 1011 for the purpose of determining the gain upon the sale or other disposition of such property.
(Aug. 16, 1954, ch. 736,
Cross References
Adjusted basis of mine or deposit, see section 616 of this title.
Adjustments to basis in respect of depletion, see section 1016 of this title.
Basis for depreciation, see section 167 of this title.
Basis of property as cost, see section 1012 of this title.