Suzanne Brown
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Inherited royalty interest eligible for depletion allowance?

IRS Publication 535 (Section 9: Depletion) states that one may claim a depletion deduction only if you have an "economic interest" in a mineral property, where an "economic interest" exists if BOTH of the following apply:



- you have acquired BY INVESTMENT (caps. mine) any interest............

- you have a legal right to income from the extraction................



Although I have not to this point claimed any depletion deductions for my inherited royalty interests in… Continue

Posted on March 1, 2009 at 9:35 — 1 Comment

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At 11:43 on January 2, 2009, Eat Beef said…
Just remembered Deloris' husbands name, it is Tommy Wheeler, last known address, in Timpson.
At 11:41 on January 2, 2009, Eat Beef said…
Dear Suzanne, Good to hear of you. I have some good history on the Wheelers written by my mother. Also, do you have the book that Deloris Wheeler wrote? I don't have it, and I'm not even sure where she is now. She was married to a Wheeler, but divorced him, around 1970.
I'm not sure how Mama got the copy of the photo that you have, but she said, it came out the news paper, back in the early 1900's If you will send my your email address I will sends parts of this story as I find them. She wrote them in chapters. I'm working on my Moms article now, trying to get them into a book for the family, and maybe other people that might want to buy one It's about Shelby County history, passed down thru my Mama's family. Does your old deed have Sam Houston's signature? The Hardy Hancock land grant deeds have his signature on them. This email only lets you type 2000 letters...
Regina Hughes Vaughn
At 19:03 on January 1, 2009, Eat Beef said…
Suzanne, I read what you said about Ransom Wheeler. He was also my Grandmothers Uncle. She was Blonnie Yarbrough, her Mother was Alice Emmons, and I think her mother was a Wheeler, and Ransom was an uncle to her. I don't have all that infomation, but my mother is Marcille Hancock-Hughes. She wrote a story about the Wheeler in the Light and Champion and had that same picture you have in her article, perhaps that is where you got your photo, or not? I do have a cousin in
Center, name Suzanne, but not sure about "Brown" As you are new to the site, you will find I have ask to be friends, then we can email, to each other, on this site.
 
 
 

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Tuscaloosa Trend Sits On Top Of Poorest Neighbourhood For Decades - Yet No Royalties Ever Paid To The Community -- Why??

In researching the decades-old Tuscaloosa Trend and the immense wealth it has generated for many, I find it deeply troubling that this resource-rich formation runs directly beneath one of the poorest communities in North Baton Rouge—near Southern University, Louisiana—yet neither the university ( that I am aware of)  nor local residents appear to have received any compensation for the minerals extracted from their land.

This area has suffered immense environmental degradation…

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