Client is limited partner in oil and gas partnership. Form k1 shows both cost and percentage depletion. I understand that it is up to individual taxpayer to deduct - this is not deducted on partnership level. I am unfamiliar with how partnerships report this though. Do I enter BOTH figures on screen 20 in Lacerte or the larger of the two? Originally I thought I should enter both and Lacerte would run calculations to figure the best deduction - but it looks like Lacerte deducts BOTH if I enter both figures.

Also in regards to sec 59(e)(2) expenditures - client wishes to amortize rather than deduct - however no dates are provided for the "start date". Is this something usually provided by the partnership? Or is a "various" date allowed?

Thank you in advance!