Trishhh
Level 1
‎02-08-2023 10:00 AM

On screen 18, in the oil & gas section, 15% primary oil is selected and depletion is NOT calculating.  No changes were made from 2021.  Now I have to remove the depletion selection and put the expense as an 'other deduction' so if/when it's fixed, it won't duplicate.

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PhoebeRoberts
Level 11
Level 11
‎02-08-2023 10:22 AM

What does your depletion schedule say? Are you sure something like the 65% of net income limitation isn't kicking in?

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Trishhh
Level 1
‎02-08-2023 12:09 PM

No.  These are very small royalties, under $100.

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PhoebeRoberts
Level 11
Level 11
‎02-08-2023 04:24 PM

So what does the depletion schedule say? I'm trying to reproduce your problem - royalty depletion is working just fine for me, including on the return I prepared this morning.

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Trish_H
Level 2
‎02-10-2023 08:52 PM

I reinstalled the software and all is working fine now.  I had some other small issues & decided to 'refresh'.  Thank you for the reply!  Happy Tax Time!!

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