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Level 3
Mar 2, 2020 8:19 PM UTC

Depletion allowance on 1099-MISC box2 royalties

Is a 15% depletion allowance allowed on the gross royalties (before production taxes and other expenses)?

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    Intuit Community Champion
    Mar 29, 2020 11:21 PM UTC

    Yes, it is entered on line 18 B of the schedule E.