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.
What does your depletion schedule say? Are you sure something like the 65% of net income limitation isn't kicking in?
No. These are very small royalties, under $100.
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.
You have clicked a link to a site outside of the Intuit Accountants Community. By clicking "Continue", you will leave the community and be taken to that site instead.