Reporting partnership K-1 oil and gas depletion in Lacerte for Schedule E

Follow these steps to enter oil and gas depletion:

1. Go to Screen 20, Passthrough K-1's.
2. In the Passthrough K-1's list, select the activity type.
3. Select Oil & Gas in the section list.
4. Enter the depletion associated with the activity.
5. Enter 1 in 1 = report depletion on Schedule E, page 1 (royalty).

Related topics

• Entering oil and gas information
• Understanding how Lacerte calculates the oil and gas depletion deduction