Brensand
Level 2
02-19-2020
06:32 PM
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please help! I cannot figure out for the life of me how to get the 15% royalty depletion to show up on the K-1, box 20, code T. Piece of cake when doing the individual returns, but not so much for the 1065.
To be clear, I have one royalty ($400k+) that the partnership received, I have 4 partners that will get K-1s. I have found where to enter the royalty income, and the deductions (production taxes) for box 13-w - but cannot find where to enter the depletion (I do realize that I have to calculate it myself, unlike in the individual model).
Solved! Go to Solution.
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