Level 11
02-14-2022
08:56 AM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
In Lacerte (so likely also ProConnect), the depletion screen is called Oil & Gas. Link to Schedule E, enter at least one property.
Because dollar rounding gets material fast with multiple properties, I do my depletion in Excel and enter summary info in the O&G screen, so Lacerte can apply stuff like the 65% of net income limitation.