26 U.S.C. § 1254
Gain from disposition of interest in oil, gas, geothermal, or other mineral properties
United States · Title 26 — INTERNAL REVENUE CODE · Status: effective
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- Citation
- 26 U.S.C. § 1254, Gain from disposition of interest in oil, gas, geothermal, or other mineral properties, United States, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/462968
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Full text
If any section 1254 property is disposed of, the lesser of—
the aggregate amount of—
the excess of—
in the case of—
For purposes of paragraph (1)—
The term “section 1254 property” means any property (within the meaning of section 614) if—
The amount of the expenditures referred to in paragraph (1)(A)(i) shall be properly adjusted for amounts included in gross income under section 617(b)(1)(A).
Under regulations prescribed by the Secretary—
Legislative history
The public laws that enacted or amended this section. Tallies are for the whole bill as it passed each chamber — often an omnibus covering far more than this provision — not a vote on this section alone.
- Tax Reform Act of 1976House: no recorded tallySenate: no recorded tally
- Energy Tax Act of 1978House: no recorded tallySenate: no recorded tally
- Subchapter S Revision Act of 1982House: no recorded tallySenate: no recorded tally
- Tax Reform Act of 1986House: no recorded tallySenate: no recorded tally
- Technical and Miscellaneous Revenue Act of 1988House: no recorded tallySenate: no recorded tally