My client has a K-1 from a partnership with Oil & Gas. On last year's return the K-1 Reconciliation worksheet shows a disallowed basis limitation for depletion. However I cannot seem to find the proper spot to input this in Lacerte. Under the K-1 screen, in the Oil & Gas section there is two options 1) Depletion Carryover (From Lacerte instructions it appears this is only if it was because of the 65% limitation) and 2) Prior unallowed passive percentage depletion (It was not limited because of passive income). So the only other option I can find, and where I have it now is under "Basis Carryovers" and on the "Deductions related to royalty income". I do not like that this shows up under Other Deductions on schedule E rather than the depletion line though. But would this be the most correct option?
