Schedule K-1 Oil & Gas Depletion

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I have a Schedule K-1 (Form 1065) with multiple items in Box 20 for oil & gas depletion.  Is there a certain one I enter, or do I enter all of them?  I am using TurboTax Premier Desktop.

20T1 Sustained Depletion

20T2 Cost Depletion

20T3 Percentage Depletion in Excess of Cost Depletion

20T4 Percentage Depletion in Excess of Basis

[PatriciaV · Accepted solution]

When you check Box 20 and select Code T (enter no amount), a later screen will give you the choice to use either Cost or Percentage Depletion. If you choose Percentage, you will need to enter the gross income from oil & gas and the depletion rate (usually 15%). For Cost Depletion, enter the amount from Box 20 Code T2.