DianeW
Expert Alumni

Business & farm

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).

  1. Sign into your TurboTax account (online or desktop)
  2. Search, upper right,  k1 > Jump to k1
  3. Continue to make the entries for each line on your K1
  4. Click the image attached to enlarge and view for assistance.