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Level 3
March 2, 2020

Depletion allowance on 1099-MISC box2 royalties

  • March 2, 2020
  • 1 reply
  • 5 views

Is a 15% depletion allowance allowed on the gross royalties (before production taxes and other expenses)?

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    1 reply

    Intuit Community Champion
    March 29, 2020

    Yes, it is entered on line 18 B of the schedule E.