FAQ's
This calculator will use your own personal information to calculate the cost depletion amount.
“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.
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.
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).
No. You will need to calculate the cost depletion for each block of Units separately.
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.