Why wasnt i given a 10% depletion on coal income?

[view2 · Accepted solution]

You missed the screen to claim the depletion for coal, only oil and gas royalties is an auto entry by Turbotax.

Go back through the rental and royalty section , read screens carefully make the correct selection for your particular situation and enter the correct 10% for your depletion.

Ores of metals, coal, oil and natural gas, gemstones, dimension stone, construction aggregate, salt and other materials extracted from the ground are considered to be minerals.

"What Type of Royalty Income" Turbotax gives an example of gold and silver.

The word "mineral" is used in a variety of contexts.

There is no definition of "mineral" that applies in every situation and what is considered to be a "mineral" can vary from state to state.