nacbarbour
Level 2
Activity Feed
  • Proconnect is treating the depletion deduction as if it is a passive loss. This taxpayer has other passive losses and income the net of which is net positive in...
    nacbarbour
    1
    Sep 18, 2024
  • If I check the box, the depletion amount gets added to the 8582 as a passive loss while the royalty income is not characterized as passive income such that depl...
    nacbarbour
    4
    Sep 18, 2024
  • When I include depletion on Sch E part 1 as suggested, the depletion is limited due to passive activity loss limitations while the income is not allowed as an o...
    nacbarbour
    1
    Sep 18, 2024
  • My client has royalty income from a trust. Where is depletion reported? And what are the steps in proconnect to get the deduction in the right place on the prop...
    nacbarbour
    9
    Sep 18, 2024
  • Thanks. I ended up starting data entry using the Sch E screen. Then I chose royalties and filled in more such a 1099 expenses shown on the 1099 and then in the ...
    nacbarbour
    2
    Apr 06, 2023
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Member Since ‎09-18-2022
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