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Write off of depletion carry forward amount

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Level 1

An LLC had a oil driling business until 2016. It then changed to commercial property leasing for 2017 but has some prior year depletion expense carry over. How do you write off that amount in 2016 tax return? I called Intuit and they do not know.

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LLC taxed as what? Percentage depletion or cost? Depletion carried over due to what limitation (income at the well level? income at the entity level?)? At the end of 2016(!) did they still have an interest in the leasehold? If not, how was it disposed of (expiration? sale?)

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Level 15

Looks like the answer has more questions than the question 😮

ex-AllStar, ex-Lutefisk taste taster, ex-ACME product tester
and ex marks the spot where those rocks and anvils hit me.