How and where do I enter a Section 197 intangible asset in Turbo Tax and capture its amortization? I have Turbo Tax Deluxe.

[LeonardS]

Thank you for your reply.  From the information you provided entering the amount from your 1099-MISC for intangible drilling cost on Schedule C  on LINE 27a "Other Expenses" is appropriate.

[Jelvmoore]

I buy the BUSINESS (DISC) version for my “non-oil/gas” S-Corp and use the “PREMIER” (DISC) version for personal with ROYALTY income.

[Jelvmoore]

Thanks for the response on the “intangible drilling cost” on line 27a.  I would take the “tangible drilling cost” but I’m not confident that I could figure out the depreciation section.