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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The Lithium Connection to Shale Drilling

Shale drilling and lithium extraction are seemingly distinct activities, but there is a growing connection between the two as the world moves towards cleaner energy solutions. While shale drilling primarily targets…

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Posted by Keith Mauck (Site Publisher) on November 20, 2024 at 12:40

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