Treatment of Gain From Disposition of Certain Natural Resource Recapture Property

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This document provides final regulations relating to the tax treatment of gain from the disposition of certain natural resource recapture property (section 1254 property after enactment of the Tax Reform Act of 1986 and oil, gas, or geothermal property before enactment of the Tax Reform Act of 1986). Changes to the applicable tax law were made by the Tax Reform Act of 1986, the Tax Reform Act of 1984, the Energy Tax Act of 1978, the Tax Reform Act of 1976, the Tax Reform Act of 1969, and the Act of September 12, 1966. The regulations provide the public with guidance in complying with the changed tax laws.