Thanks for the quick reply.
These are all ORR or Royalty Interests. The revenue is listed on Line 7 - Royalties of the K-1. Some years the preparer includes code T to Line 20 which is where the depletion is computed. Some years it is not listed and the depletion is computed through the Q&A process in TT. In the case of royalty income the depletion allowance is simply 15% of the royalty income and never becomes "fully depleted" unless it no longer produces income. I know (or believe I do) RI and ORRI is considered passive income even if you were the GP of the LLC. In my case I am not the GP of either LLC.
One of the LLCs has historically not been shown in the PAL worksheets until 2018 - don't know why. This year is the first where it had a loss. The other LLC is new and had positive income and the depletion allowance was taken to the PAL worksheets. I'll look at how that was entered.
I'm still curious to know what happens behind the scenes to tell TT to add amounts to the PAL worksheets. If I knew that I might be able to better follow the information flow.
So, how do you upgrade to Live?
