Level 11
05-28-2020
12:49 PM
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There's nothing special you need to do - the "in excess of basis" amount only affects the basis schedule, not the depletion schedule. The full amount of depletion automatically carries to the depletion schedule.
So if you have a K-1 that shows
percentage depletion: $100
depletion in excess of basis: $70
Your depletion schedule shows the full $100 of depletion. Your basis schedule reduces basis by only the net $30.