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    • Created with Sketch. See what's trending for the November 15th deadline (Form 990) and resources for the upcoming tax season. Lacerte | ProConnect | ProSeries
    Created with Sketch. See what's trending for the November 15th deadline (Form 990) and resources for the upcoming tax season. Lacerte | ProConnect | ProSeries
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    Depletion allowance on 1099-MISC box2 royalties

    hmosbergea
    Level 3
    ‎03-02-2020 02:19 PM

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

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    1 Comment 1
    Terry53029
    Level 14
    Level 14
    ‎03-29-2020 06:21 PM

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

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