Since they lowered the reserve estimate last year, my calculated cost depletion has gone up dramatically this year. This year I calculate cost depletion at about 2.5 times the gross royalties received, so I report a loss on the MTR royalties. Last year it was about .8 to 1.0 times. Obviously depends how long you have owned it, but sure helped out the taxes this year!
Looking back at 2008, the difference is not that dramatic. I sold all of my former MTR holdings in July and August of 2008, then bought back Dec 2008 thru March of 2009. I still own the latest batch. So the difference is more related to when I bought and sold than the cost depletion percentages allowed, although they did increase.
wether...Other investments can cause delays in filing and or having to file an amendment. For years we have had to wait to file till the 14th or 15th of April to make sure we are using the latest 1099 from our broker, Bk of Am Inv Ser. We don't own MTR or it's equivalent, but, do have 15 CEFs and ETFs. The problem stems from accountants not knowing how to properly determine what is dividends, cap gains,etc. Our broker blames the Nat'l Financial Co that makes out 1099s. It is a yearly fiasco. We all have problems, it seems. retiredafe8