26 U.S.C. § 612 (2024)

This is the official text of 26 U.S.C. § 612 (2024), part of Federal (US Code)’s United States Code — the codified general and permanent federal statutes of the United States, organized into more than 50 numbered titles by subject.

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Basis for cost depletion

Official statutory text

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.

(Aug. 16, 1954, ch. 736, 68A Stat. 208.)

Status: in_force · Read it on the official government site

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About this page: Statute text is reproduced from official government publishers via the Open US Law dataset (Vaquill AI, snapshot v2026.08, CC BY 4.0). Primary legislative text like this is public domain under the government-edicts doctrine (Georgia v. Public.Resource.Org, 2020). We link every section back to its official source so you can verify it independently.