Mark36
New Member

How do I enter percent and cost depletion for the same K1 in Box 20 Code T?

TurboTax asks if I want to use percent depletion or cost depletion.  How do I choose?  My K-1 has multiple T entries for box 20 including:

T1 Sustained - Assumed Allowable Depletion T2 Cost Depletion
T3 Percentage Depletion in Excess of Cost Depletion
T4 Percentage Depletion in Excess of Basis