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Introduction

SECTION 3. SCOPE

Internal Revenue Bulletin 2004-10 · 2026-10-03 edition · updated 2026-10-04 · United States

.01 In General . A taxpayer’s estimate of an oil and gas property’s probable or prospective reserves determined under the safe harbor provided in this revenue procedure may be used only for purposes of the depletion allowance. This revenue procedure has no application to the determination of the fair market value of any oil and gas property or for any other purpose not specifically authorized herein.

.02 Effect of Other Statutory and Reg- ulatory Rules . Except with respect to estimated total recoverable units (within the meaning of § 1.611–2(c)(1)) and revised estimates (within the meaning of § 1.611–2(c)(2)), this revenue procedure has no effect on the rules provided in § 611 and the regulations thereunder.

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▸Contents — Internal Revenue Bulletin 2004-10
Internal Revenue Bulletin 2004-10

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