Internal Revenue Code · 26 U.S.C.
§ 612. Basis for cost depletion
Official text, no changes From the Office of the Law Revision Counsel, release point 119-121 (current through Public Law 119-121 (October 9, 2026)). Compare it with the official text at uscode.house.gov (external site).
Cite as 26 U.S.C. § 612
At a glance
Read from the text, the source credit and the official notes. Not part of the law.
- Status
- In force
- Length
- 54 words · about 1 min to read
- Cross-references
- cites 1; cited by 0 Code sections and 7 other regulations
- Regulations
- 5 issued under this section
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.)
Regulations under this section
Treasury regulations (26 CFR) issued under § 612
- § 1.612-1 Basis for allowance of cost depletion.
- § 1.612-2 Allowable capital additions in case of mines.
- § 1.612-3 Depletion; treatment of bonus and advanced royalty.
- § 1.612-4 Charges to capital and to expense in case of oil and gas wells.
- § 1.612-5 Charges to capital and to expense in case of geothermal wells.
Cross-references
Computed from the citations in the text of Title 26 and 26 CFR.
This section cites 1 other section
Cited in 7 regulations not issued under it
- § 1.611-1 Allowance of deduction for depletion.
- § 1.611-2 Rules applicable to mines, oil and gas wells, and other natural deposits.
- § 1.611-3 Rules applicable to timber.
- § 1.613-1 Percentage depletion; general rule.
- § 1.631-2 Gain or loss upon the disposal of timber under cutting contract.
- § 1.631-3 Gain or loss upon the disposal of coal or domestic iron ore with a retained economic interest.
- § 1.1254-1 Treatment of gain from disposition of natural resource recapture property.
Where it sits in the Code
- Subtitle A Income Taxes
- Chapter 1 NORMAL TAXES AND SURTAXES
- Subchapter I Natural Resources
- Part I DEDUCTIONS