Hello experts,
I have a working interest in an Oil and Gas endeavor. I received Revenue checks from it last year (2023). That income was reported to me on a 1099-NEC. I entered this as-is in Turbotax as 1099-NEC, but now I'm trying to figure out - how to enter the 15% depletion allowance on this income.
Can someone please advise how I can go about claiming the 15% back? I'm using TT Premier Mac Version.
TIA
-G
