Why did turbotax deluxe not calculate the depletion allowance on my oil royalties?

posted

From what I saw when I was preparing my taxes it required the Premier or above to prepare the Schedule E for oil royalties, etc.; however last year Turbo Tax Premier automatically figured and added depletion on the E form and they did not this year (not sure why). I had to ask a question and found that I would have to list it manually (15% of royalty income on Line 18). I hope this helps.

Barbara

I have same issue with TurboTax Business 2019 does not handle my Oil Royalty Depletion Allowance automatically. Not sure where line 18 is. Also read that you can deduct under other deductions, is that also true. What are my options.

Thank you