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nwempe
Level 4
August 28, 2025
Question

Why does my oil and gas depreciation on a Partnership return show up on pg. 1, Other Deductions but my oil and gas depreciation on an S Corp return shows on pg.1, Depr?

  • August 28, 2025
  • 1 reply
  • 6 views
Does it have something to do with the P/S has Trusts as investors so we don't take Section 179?

    1 reply

    T
    Terry53029Intuit Community Champion
    Intuit Community Champion
    August 28, 2025

    Oil, and gas partnership can have depreciation and depletion. depreciation will be for drilling equipment which is entered on asset worksheet and reported on line 16 of the 1065 and depletion is reported on partners K1, and not on the 1065. In either case deprecation is not "other deductions" on 1065

      N
      nwempeAuthor
      Level 4
      September 1, 2025

      Understand the difference between depreciation and depletion however my depreciation is for some reason still showing up as "Other deductions" on 1065

       

      T
      Terry53029Intuit Community Champion
      Intuit Community Champion
      September 2, 2025

      If you are sure you entered assets for deprecation on the assets worksheets then you need to do normal troubling shooting steps (repair updates, reboot, ETC.) If still happening then you will need to call support

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