Thanks for the clarity. I do find it odd that while the depletion deduction is appropriately reflected on the K-1’s, the 1041 itselfdoes not reflect it. Effecti...
Thank you, that was very helpful. I have one additional related question that you may be able to help with. This particular property is held for Royalty purpose...
I have a similar question. In this case, the Royalty Income is in a Trust. I am using TurboTax business to prepare the Trust return and K-1’s for the beneficiar...
Using info from a K-1. Partnership was dissolved by year end 2019. K-1 shows a basis and ending capital account with a positive number. K-1 notes that it is a f...
