posted

How do I deduct the 15% depletion for oil royalties in Turbo Tax Business?

1 Reply

How do I deduct the 15% depletion for oil royalties in Turbo Tax Business?

You can deduct under 'All other Expenses'. Enter the description and amount.

**Join us for our "All about the refund" event, sign up here

**Mark the post that answers your question by clicking on "Mark as Best Answer"

Found what you need?

Start my taxes

Already have an account? Sign In

(4.6/5 | 291,310 reviews)

Still have questions?

Make a post

Or browse the Forums

About Community

Learn about taxes, budgeting, saving, borrowing, reducing debt, investing, and planning for retirement.

3.49m
Members

2.63m
Discussions

Quick links

First Time Here?

Community Do's & Don'ts

Upcoming Events

Ready to file your taxes?

Estimate capital gains, losses, and taxes for cryptocurrency sales

Try it

Meet your expertsAll Experts >

Employee Tax Expert

CPA

Employee Tax Expert

EA with 18 years of tax experience.

Employee Tax Expert

I am an Enrolled Agent. I worked for the I.R.S. for 33 years. I spent my last 11 years at the I.R.S. in Mand...

Employee Tax Expert

Been with Intuit for going on 6 years now. Been part of TTLive, Full Service TTL, was part of Accuracy guaran...

Employee Tax Expert

Enrolled Agent

Manage cookies

ABCDEFGHIJKLMNOPQRSTUVWXYZabcdefghijklmnopqrstuvwxyz0123456789-_~

Why sign in to the Community?

Do you have a TurboTax Online account?

How do I deduct the 15% depletion for oil royalties in Turbo Tax Business?

How do I deduct the 15% depletion for oil royalties in Turbo Tax Business?

Found what you need?

Top help articles

Still have questions?

About Community

3.49m Members

2.63m Discussions

Quick links

3.49m
Members

2.63m
Discussions