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Entering intangible drilling costs from a Schedule K-1 on a fiduciary return

by Lacerte Tax 2022 Updated 1 year ago

In Lacerte, where do you enter intangible drilling costs from a Partnership Schedule K-1, box 13, code J, into a fiduciary return?

To enter intangible drilling costs from a Partnership Schedule K-1:

  1. Go to Screen 25, Passthrough K-1's.
  2. Under the Schedule K-1 panel, select the pass-through entity, or add one by selecting Add.
  3. Scroll to the Oil & Gas section.
  4. Enter the Intangible drilling costs (20T).
Lacerte Tax

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