Depletion Please help

[cpabsd]

Client received K-1 from partnership that shows an amount in tentative allowable percentage depletion in the supplemental information attached to the K-1. Prior tax preparer showed this amount as separate line item on page 2 of Schedule E. When I show the amount on K-1 input sheet as depletion, the software created a new column for depletion but the number does not flow anywhere. Does anyone have any guidance to offer on this? Thanks!

[lbbwest]

Client received K-1 from partnership that shows an amount in tentative allowable percentage depletion in the supplemental information attached to the K-1. Prior tax preparer showed this amount as separate line item on page 2 of Schedule E. When I show the amount on K-1 input sheet as depletion, the software created a new column for depletion but the number does not flow anywhere. Does anyone have any guidance to offer on this? Thanks!

I called ATX support regarding this issue, the software does not support depletion as an asset on the "normal" asset listing, we have to make a separate spread sheet for the depletion allowable. lbb

[cpabsd]

Thanks for the guidance - I appreciate you taking the time to call support. Hopefully, that was helpful to others as well.