# Basis of inherited Mineral Rights?
**URL:** https://www.mineralrightsforum.com/t/basis-of-inherited-mineral-rights/3287
**Category:** Harrison County, WV
**Created:** [March 4, 2017, 7:34pm UTC](https://www.mineralrightsforum.com/t/basis-of-inherited-mineral-rights/3287 "2017-03-04T19:34:56Z")
**Posts on this page:** 2
**Page:** 1
### Author:  [@Jonna\_Ritchie](https://www.mineralrightsforum.com/u/Jonna_Ritchie)
#### Post date: [March 4, 2017, 7:34pm UTC](https://www.mineralrightsforum.com/t/basis-of-inherited-mineral-rights/3287/1 "2017-03-04T19:34:56Z")
I live in Ohio and inherited 5.0761 acres of mineral rights in Eagle District, Harrison County, West Virginia on the passing of mom on 9/30/2004. All rights were sold in Fall 2016 at $1,750/net acre resulting in proceeds of $8,800. This was a non-producing well from which we’d been receiving small (under $5) royalties per quarter for several years. How can I determine the basis of the inherited rights so I can determine federal tax liability on my 2016 tax return? Is there any other tax liability I need to pay? Should the buyer be sending me some sort of tax form to use?
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### Author:  [@system](https://www.mineralrightsforum.com/u/system)
#### Post date: [August 14, 2018, 10:36pm UTC](https://www.mineralrightsforum.com/t/basis-of-inherited-mineral-rights/3287/2 "2018-08-14T22:36:14Z")