I have a single member LLC that I use to invest in working interest projects for drilling oil wells. Where in turbotax can I report my IDC expenses?

[tagteam]

Do you receive K-1s for these investments?

[diehl_n61012]

I don't receive K-1s. 

[tagteam]

See https://ttlc.intuit.com/community/investments-and-rental-properties/discussion/intangible-drilling-c...

[diehl_n61012]

It's a single member LLC. So the taxes are filed under my personal 1040. I believe these IDCs need to be expensed on the Schedule C. But Turbotax does not have a section for them. Do I just input them as a separate line item under "Other Misc Expenses" and just label as IDCs? 

[ee-ea · Accepted solution]

@diehl_n61012

Do I just input them as a separate line item under "Other Misc Expenses" and just label as IDCs? 

Yes, you do.