26 U.S.C. § 612 : Internal Revenue Code — Income Taxes — Normal Taxes And Surtaxes — Natural Resources — Deductions — 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.