
From the U.S. Code Online via GPO Access
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[Laws in effect as of January 2, 2001]
[Document not affected by Public Laws enacted between
  January 2, 2001 and January 28, 2002]
[CITE: 26USC612]

 
                     TITLE 26--INTERNAL REVENUE CODE
 
                        Subtitle A--Income Taxes
 
                  CHAPTER 1--NORMAL TAXES AND SURTAXES
 
                     Subchapter I--Natural Resources
 
                           PART I--DEDUCTIONS
 
Sec. 612. Basis for cost depletion

    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.)
