March 2009 Blog Posts (22)

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

Added by Suzanne Brown on March 1, 2009 at 9:35 — 1 Comment

Anybody heard of MC Mineral Company, LLC?

Got correspondence from them about purchasing mineral rights.

Added by Brad on March 1, 2009 at 3:31 — 1 Comment

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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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Posted by Char on May 29, 2025 at 14:42 — 4 Comments

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