Yes. You can claim expenses related to natural gas and oil royalties. TurboTax will automatically compute your depletion allowance. However, you can add other expenses.
- Type royalties in Search (magnifying glass) in the top right corner
- Jump to royalties
- On "Your 2022 rentals and royalties summary:" edit your royalties
- You will eventually see a screen "What additional expenses and assets did you have for Texas oil royalty?
- Choose and enter any applicable expenses
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