PhoebeRoberts
Level 11
05-31-2022
09:30 AM
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You've determined that the appropriate treatment is to calculate depletion at the partner level, and that statutory (percentage) depletion at 5% without regard to basis is appropriate? I'd just use Screen 30 or 31 to memo the tentative depletion deduction.
The K-1 export is not going to do the depletion calculation at the 1040 level automatically, regardless of your 1065 input.