Tax Basis of Each Property. Subject to §704(c) of the Code, the tax basis of each oil and gas property for computation of cost depletion and gain or loss on disposition shall be allocated and reallocated when necessary based on the capital interest in the Partnership as to the property and the capital interest in the Partnership for this purpose as to each property shall be considered to be owned by the parties in the ratio in which the expenditure giving rise to the tax basis of the property has been charged as of the end of the year.
Appears in 11 contracts
Samples: Certificate and Agreement (DGOC Series 18C LP), Certificate and Agreement (DGOC Series 18B LP), Certificate and Agreement (DGOC Series 28, L.P.)
Tax Basis of Each Property. Subject to §704(css.704(c) of the Code, the tax basis of each oil and gas property for computation of cost depletion and gain or loss on disposition shall be allocated and reallocated when necessary based on the capital interest in the Partnership as to the property and the capital interest in the Partnership for this purpose as to each property shall be considered to be owned by the parties in the ratio in which the expenditure giving rise to the tax basis of the property has been charged as of the end of the year.
Appears in 4 contracts
Samples: Limited Partnership Agreement (Atlas America Public 12 2003 Program), Certificate and Agreement (Atlas America Public #15-2005 Program), Escrow Agreement (Atlas America Public 11-2002 LTD)
Tax Basis of Each Property. Subject to §Section 704(c) of the Code, the tax basis of each oil and gas property for computation of cost depletion and gain or loss on disposition shall be allocated and reallocated when necessary based on the capital interest in the Partnership as to the property and the capital interest in the Partnership for this purpose as to each property shall be considered to be owned by the parties in the ratio in which the expenditure giving rise to the tax basis of the property has been charged as of the end of the year.
Appears in 3 contracts
Samples: Partnership Agreement (Atlas Resources Series 33-2013 L.P.), Certificate and Agreement (Atlas America Series 25-2004 B Lp), Certificate and Agreement (Atlas America Series 25-2004 a L P)
Tax Basis of Each Property. Subject to §Section 704(c) of the Code, the tax basis of each oil and gas property for computation of cost depletion and gain or loss on disposition shall be allocated and reallocated when necessary based on upon the capital interest in the Partnership as to the property and the capital interest in the Partnership for this purpose as to each property shall be considered to be owned by the parties hereto in the ratio in which the expenditure giving rise to the tax basis of the property has been charged as of the end of the year.
Appears in 1 contract
Samples: Subscription Agreement (Atlas Energy for Nineties Public No 8 LTD)
