§ 1.613A-0. Limitations on percentage depletion in the case of oil and gas wells; table of contents.

§ 1.613A-1 Post-1974 limitations on percentage depletion in case of oil and gas wells; general rule. § 1.613A-2 Exemption for certain domestic gas wells. § 1.613A-3 Exemption for independent producers and royalty owners.

(a) General rules.

(b) Phase-out table.

(c) Applicable percentage.

(d) Production in excess of depletable quantity.

(1) Primary production.

(2) Secondary or tertiary production.

(3) Taxable income from the property.

(4) Examples.

(e) Partnerships.

(1) General rule.

(2) Initial allocation of adjusted basis of oil or gas property among partners.

(i) General rule.

(ii) Allocation methods.

(3) Adjustments by partnership to allocated adjusted bases.

(i) Capital expenditures by partnership.

(ii) Admission of a new partner or increase in partner's interest.

(A) In general.

(B) Allocation of basis to contributing partner.

(C) Reduction of existing partners' bases.

(iii) Determination of aggregate of partners' adjusted bases in the property.

(A) In general.

(B) Written data.

(C) Assumptions.

(iv) Withdrawal of partner or decrease in partner's interest.

(A) In general.

(B) Special rule for determining a withdrawing partner's basis in the property.

(v) Effective date.

(4) Determination of a partner's interest in partnership capital or income.

(5) Special rules on allocation of adjusted basis to partners.

(6) Miscellaneous rules.

(7) Examples.

(f) S corporations.

(g) Trusts and estates.

(h) Businesses under common control; members of the same family.

(1) Component members of a controlled group.

(2) Aggregation of business entities under common control.

(3) Allocation among members of the same family.

(4) Special rules.

(5) Examples.

(i) Transfer of oil or gas property.

(1) General rule.

(i) In general.

(ii) Examples.

(2) Transfers after October 11, 1990.

(i) General rule.

(ii) Transfer.

(iii) Transferee.

(iv) Effective date.

(v) Examples.

(j) Percentage depletion with respect to bonuses and advanced royalties.

(1) Amounts received or accrued after August 16, 1986.

(2) Amounts received or accrued before August 17, 1986.

(k) Special rules for fiscal year taxpayers.

(l) Information furnished by partnerships, trusts, estates, and operators.

§ 1.613A-4 Limitations on application of § 1.613A-3 exemption.

(a) Limitation based on taxable income.

(b) Retailers excluded.

(c) Certain refiners excluded.

§ 1.613A-5 Election under section 613A (c) (4). § 1.613A-6 Recordkeeping requirements.

(a) Principal value of property demonstrated.

(b) Production from secondary or tertiary processes.

(c) Retention of records.

§ 1.613A-7 Definitions.

(a) Domestic.

(b) Natural gas.

(c) Regulated natural gas.

(d) Natural gas sold under fixed contract.

(e) Qualified natural gas from geopressured brine.

(f) Average daily production.

(g) Crude oil.

(h) Depletable oil quantity.

(i) Depletable natural gas quantity.

(j) Barrel.

(k) Secondary or tertiary production.

(l) Controlled group of corporations.

(m) Related person.

(n) Transfer.

(o) Transferee.

(p) Interest in proven oil or gas property.

(q) Amount disallowed.

(r) Retailer.

(s) Refiner.