If there is depreciation expense or depletion, how to enter it on schedule e line 18?

[KrisD15 · Accepted solution]

Depreciation will be computed and entered on Schedule E line 18 after you enter the asset into the program.

Click Edit next to the business name and then scroll down to Assets/Depreciation 

Click "Yes, I want to go to my asset summary"

Next click "Add an Asset" 

You also need to enter the income and expenses for 2022

Finish the interview and click Done

The depreciation expense will be calculated and reported. 

[ilg10402021]

I am using TurboTax Deluxe Desktop for 2022.  

I received Royalties for 2022 and I entered all the information.  TT Deluxe Desktop did NOT calculate the Depletion Allowance even though I entered all the required data.  Why not??  What's the issue with this??

[PatriciaV]

You may need to confirm that the property type was set to "royalty" and not "rental. This choice appears on the Property Profile (or Info Summary) page. The checkbox is at the top of the screen.

If you're using TurboTax for desktop, you can go to Forms Mode, open the Schedule E, p1, and look at box 1b. The Type of Property should be "6."

[ilg10402021]

It is sent to Royalty for sure--6.  I have done everything right.  Depletion is not being automatically calculated. I had to enter it manually and file an amended return because TTax did not calculate the depletion for me.  Looks like buggy code to me.