I do have amounts in 5, 7 and 9. 5 and 7 flowed to SchE Part III, However amount in Box 9b did not !!
I am over-ridding SchE Part III Line 33(e) to get the box 9 deduction into my return.
@bud0k0c0 I don't see a problem with that if this is not a passive activity where there isn't enough income to cover the expenses.
Thanks -- went ahead and "over-rode" the deduction in Sch-e Part III Line 33(e) -- however, be aware that TT will not let you e-file with this field "over-ridden" --- should TT allow for this deduction?
@bud0k0c0 Thank you for the update and the report about what you had to do for recognition in your tax file.
Yes, if you have a depletion expense it should come through to the Schedule E, Part III under either passive or nonpassive income or loss. On your 1041-K1 it should be listed in box 9 which will allow you to enter the depletion amount in TurboTax (that's the box you want to enter it in for TurboTax).
Thank You --- Thats what I thought. However, TT Prem does not flow the Depletion entry onto the Sch E Part III.
Over-ridding SchE Part III Field 33(e) was the only way I could get TT to use the Depletion as a deduction.
Or maybe I am doing something wrong -- but don't see it