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1995 U.S. Code
Title 26 - INTERNAL REVENUE CODE
CHAPTER 1 - NORMAL TAXES AND SURTAXES
Subchapter I - Natural Resources
PART I - DEDUCTIONS
Sec. 612 - Basis for cost depletion
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ยง612. Basis for cost depletion
ยง612. 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, 68A Stat. 208.)
Cross ReferencesAdjusted 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.
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