% depletion reduces the basis in your mineral rights and is subject to ordinary income recapture upon sale. Royalty owners have a special exclusion from being t...
% depletion reduces the basis in your mineral rights and is subject to ordinary income recapture upon sale. Any % depletion in excess of basis is not subject to...
Disagree for the reasons and citations referenced above. To further clarify, the code states that with a "regular and continuous involvement" the rental activit...
Not sure if I agree. It is not crystal clear, however, but I would lean toward Sec 195 applying to rental properties. One, rental properties can rise to the lev...
