# 26 U.S.C. § 612: Basis for cost depletion

Source: OLRC release point 119-134 <https://uscode.house.gov/us/usc/119-134/t26/s612>. Cite pinpoints as 26 U.S.C. § 612(a)(1).

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.

## Regulations

- [Treas. Reg. § 1.612-1](/26/reg/1.612-1.md): Basis for allowance of cost depletion. (interprets § 612)
- [Treas. Reg. § 1.612-2](/26/reg/1.612-2.md): Allowable capital additions in case of mines. (interprets § 612)
- [Treas. Reg. § 1.612-3](/26/reg/1.612-3.md): Depletion; treatment of bonus and advanced royalty. (interprets § 612)
- [Treas. Reg. § 1.612-4](/26/reg/1.612-4.md): Charges to capital and to expense in case of oil and gas wells. (interprets § 612)
- [Treas. Reg. § 1.612-5](/26/reg/1.612-5.md): Charges to capital and to expense in case of geothermal wells. (interprets § 612)

## Leading cases

- [The Beal Foundation v. United States, 559 F.2d 359 (5th Cir. 1977)](https://www.courtlistener.com/opinion/347589/the-beal-foundation-v-united-states/)

## Proposed regulations (not in force)

- [Prop. Treas. Reg. § 1.612-3](/26/prop/1.612-3_00-2730.md): Depletion; treatment of bonus and advanced royalty. (REG-103882-99, proposed 2000-02-08)

## Connections

Cites: § 1011 Adjusted basis for determining gain or loss

Cited by: none

Derived from: 1939 § 114(b)(1)

## Amendments

- 1954-08-16: [Act Aug. 16, 1954, ch. 736](/26/act/1954-ch736.md), 68A Stat. 208