Preliminary Report on Depletion, Vol. 1 Reports to the Joint Committee on Internal Revenue Taxation from Its Staff Pursuant to Section 1203 (B)(6), Revenue Act of 1926; Part 8 (Classic Reprint)

Excerpt from Preliminary Report on Depletion, Vol. 1: Reports to the Joint Committee on Internal Revenue Taxation From Its Staff Pursuant to Section 1203 (B)(6), Revenue Act of 1926; Part 8
Three methods are employed by the Bureau of Internal Revenue in valuing properties for depletion: (1) Comparative sales method, (2) prevailing royalty method, and (3) analytic appraisal method.
Comparative sales method - The comparative sales method consists of determining the fair market value of the property as of the basic date of valuation by reference to the average price paid for similar properties on or about that date. The following hypothetical example shows the practical application of this method.
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