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January 25, 2023
Question

We receive monthly royalty payments for our mineral rights in WV. Can we take a depletion deduction for these payments (no taxes withheld and we owed a lot last year)?

  • January 25, 2023
  • 1 reply
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1 reply

January 25, 2023

Yes.  You can take a depletion deduction for your mineral royalties.

 

Here's some more information on depletion.

 

@Jeannie500

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