ProConnect HelpIntuit HelpIntuit

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

SOLVEDby IntuitUpdated July 05, 2023

Follow these steps to enter oil and gas depletion:

  1. From the Input Return tab, go to Income  Passthrough K-1's.
  2. Select the applicable Passthrough K-1 from the drop down. 
  3. Select the Lines 11-20 (1065), Lines 11-17 (1120S), or Lines 9-14 (1041) tab at the top of the screen.
  4. Scroll down to the Oil & Gas section. 
  5. Enter the depletion associated with the activity.
  6. Enter 1 in 1 = report depletion on Schedule E, page 1 (royalty).

Was this helpful?

You must sign in to vote, reply, or post
ProConnect Tax

Sign in for the best experience

Ask questions, get answers, and join our large community of Intuit Accountants users.

Dynamic AdsDynamic Ads