Cost Depletion Calculator

(equals total paid plus commissions)


What is this for? Show Details...
This calculator will use your own personal information to calculate the cost depletion amount.
What is the definition of "cost basis"? Show Details...
“Cost basis” refers to the price that will be used to determine your gain or loss on Units that have been sold. The original basis of your Units is (i) the total purchase price, plus any commissions paid, or (ii) the fair market value of such Units on the date they were distributed. For example, if you received your Units on the original distribution date of November 3, 1980, your original basis was $12.8125 per Unit (i.e., the original fair market value of each Unit). In order to calculate your current cost basis, this original cost basis is adjusted by the annual depletion amount that you were eligible to claim on your individual income tax return.
Can you tell me the cost basis for my Units? Show Details...
No. In order to determine the cost basis for your specific Units, you need to know the original basis of such Units as well as the original purchase date, and since we do not maintain any individual Unit holder records, we cannot provide you with the adjusted cost basis of your Units. You should consult your broker or review your records for the information needed to calculate your adjusted cost basis.
I received my Units in the original distribution from Southland Royalty Company. What is the "date purchased" and "original basis" I should use? Show Details...
You should use November 3, 1980 as the "date purchased" and $12.8125 as the "original basis" (i.e., the fair market value of one Unit as of November 3, 1980).
I purchased more than one block of Units. Can I input the basis for all those Units at one time? Show Details...
No. You will need to calculate the cost depletion for each block of Units separately.
I sold my Units in one year, but the results show the previous year as the last year owned. Why? Show Details...
You sold your Units before the first record date of that particular year; therefore, from a tax perspective, you only owned the Units through the previous year.
Note: For answers to other income tax questions and questions relating to the Trust in general, please go to the FAQ tab on the Home page.

Disclaimer: The information provided in this section of our website is for general informational purposes only. Such information is intended to be concise and only provide a quick summary that is applicable to most, but not all, individual cash-basis taxpayers in the United States. Consequently, any information provided may not be complete as to a Unit holder’s particular needs or situation. Each individual Unit holder should reference the Trust Agreement in order to determine his or her precise rights as a Unit Holder. In the event of a conflict between anything described on our website and the terms of the Trust Agreement, the Trust Agreement shall control. Significantly, the federal, state and local tax consequences, and associated tax filing responsibilities, applicable to the ownership and sale of Units by a Unit holder is dependent, in part, on each Unit holder’s specific tax circumstances. Nothing in this section of our website should be considered as individualized tax advice or a personal recommendation as to the ownership or sale of Units. Unit holders should consult their own personal tax advisors regarding all tax issues concerning the ownership and sale of Units. The Trust exercises thorough effort to ensure the accuracy of the content of this website, but it makes no warranties as to the site’s accuracy or completeness and disclaims all implied representations and warranties of any kind or nature arising out of or related to this website or its content. The Trust shall in no way be responsible for any loss or damages resulting from inaccuracies in information provided on this website or any alterations to such information made by third parties.