I am using TurboTax Deluxe 2023. I have royalties from oil and gas interests that are reported on a Schedule K-1 for a limited partnership. I go through and TurboTax figures the 15% depletion in the interview but the depletion expense is not transferred to the Schedule E.
I can go in and manually add it on the worksheet and get it to appear on my Schedule E, but it seems that TurboTax automatically should record that on the schedule.
I am confused on what I am doing wrong. From everything I have read, I should be able to use depletion as an expense on my Schedule E.
