The systematic expensing of the cost of natural resources over their useful life. Depletion is often associated with extracting industries, such as mining, quarrying, and drilling.
Depreciable real estate refers to property used in trade, business, or investment that is subject to depreciation deductions under Section 167 of the Internal Revenue Code. Land itself is generally not depreciable.
Depreciable real estate refers to property used in a trade or business, or held for investment purposes, which is subject to depreciation under Section 167 of the Internal Revenue Code. Typically, land itself is not depreciable; however, land with minerals may be subject to depletion.
Natural resources are actual and potential forms of wealth supplied by nature, including coal, oil, wood, water power, and arable land. These resources are vital for various industries and economic activities.
