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Level 1
posted Jun 6, 2019 12:51:06 AM

Why did Turbo Tax not auto fill the depletion on Schedule E this year? I am a royalty owner if that makes a difference?

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1 Best answer
Expert Alumni
Jun 6, 2019 12:51:07 AM

Yes, you are correct that TurboTax automatically calculates Depletion when you enter your 1099-Misc for Royalty Income.

You can enter it yourself, however.  The amount is 15% of your Royalty Income.

Here's more info:

https://ttlc.intuit.com/replies/7237445

1 Replies
Expert Alumni
Jun 6, 2019 12:51:07 AM

Yes, you are correct that TurboTax automatically calculates Depletion when you enter your 1099-Misc for Royalty Income.

You can enter it yourself, however.  The amount is 15% of your Royalty Income.

Here's more info:

https://ttlc.intuit.com/replies/7237445