You'll need to sign in or create an account to connect with an expert.
On an attached statement, the partnership should have told you the type and the amount of qualified expenditures for the section 59(e) election. I suggest contacting whoever issued you the K-1. Otherwise, make an educated guess based on what activities the partnership engages in or the name of the partnership.
I can not find where to include my intangible drilling costs on my turnbo tax llc
i am filling out my 1065 and there is no place to include intangible drilling costs to get the deduction so it can be passed along to K-1 holders.
i was only issued a letter saying that my intangibles were 47500
If you are preparing a business return in Turbo Tax, do the following to enter your intangible drilling expenses.
Still have questions?
Make a postAsk questions and learn more about your taxes and finances.
StephenBlue
Level 1
johntkerich7203
Level 1
mmalven
New Member
Retired04
Returning Member
pjaquette
New Member
Did the information on this page answer your question?
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.