How do I enter my oil depletion allowance and other expenses on my oil lease?

The turbo tax entries only take income and not expenses.

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Depletion expense is based on the income you received from your royalty property. After entering Form 1099-MISC, go to Rental Properties & Royalties and complete the set up for your royalty property.

Notice that percentage Depletion is already calculated and appears under Royalty Expenses for this property.

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How do I enter my oil depletion allowance and other expenses on my oil lease?