I am using TurboTax Business to do my S-Corp taxes. How do I enter Oil & Gas Royalty Income but particularly, how do I enter Oil & Gas Depletion allowance? I understand Oil & Gas Depletion Allowance is a Disallowed deduction in my S-Corp Tax Return and must be accounted for appropriately for my K-1. I don't see see the option to enter Depletion under Rentals, Royalties as you described.
