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Owning Natural Resources (Series 400: Owners and Sellers)
Owning Natural Resources - Series 400: Owners and Sellers Author:Holmes F. Crouch Owning Natural Resources (T/G 402) covers the tax law peculiarities of land and its mineral deposits, the subdivision, leasing, and mining thereof, the capital basis of "deposits in place," oil and gas drilling, and the special treatment of exploration and development costs. Also covered - depletion allowances: Cost vs. Percentage, improvements ... more »and "receding face" costs, estimating number of "recoverable units", why each mine is separate property, rights of landowner and lessee, and special rule: Capital gain/Ordinary loss.« less