Level 11
03-08-2022
02:12 PM
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Under Book Depletion, don't pick 4 = book depletion. Enter a -1 (which is Lacerte for zero). Does that get you the presentation you want?
Depletion is by definition a partner-level item, with tentative depletion handled via a note to the K-1 - that's what the "partner's summary of oil and gas activities" is.
Tax-basis capital accounts are not outside basis, other than coincidentally, if that's your concern.