turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

Depletion deduction amount from K-1 Box 20 (T) not being populated into Schedule E, Line 18 by TurboTax?

 
Connect with an expert
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

2 Replies

Depletion deduction amount from K-1 Box 20 (T) not being populated into Schedule E, Line 18 by TurboTax?

not surprising since most items, if not all items,  in box 20 are not used by TurboTax. the depletion must be entered in the schedule E info for the royalty.

 

Depletion deduction amount from K-1 Box 20 (T) not being populated into Schedule E, Line 18 by TurboTax?

Agreed that the Depletion Expense shown on the K-1  should be entered in Schedule E.   Even the Form 1065 K-1 that TurboTax builds in the background, to hold the data entered from the K-1 (including the Depletion amount shown in Box 20T), has a note that the Depletion amount should NOT be entered there--that it should be entered directly into  Schedule E.   The problem is that TurboTax fails to enter it in Schedule E.   That means users unnecessarily pay a higher tax bill unless they just happen to be looking at that Form TurboTax built in the background and realize they have to manually enter the Depletion expense amount into the Schedule E worksheet themselves.   That is unlikely, undesirable, and not what is expected from tax software.    Users should not have stumble on to this and then  manually override entries in Forms.     

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
Manage cookies