Schedule E - Depletion
1

To see the depletion field in the Q&A for a rental property you have to check the Not active participant box on the screen titled Rental Income - Active Participant.

To reach the rental income depletion screen:

  1. From within your TaxAct® return (Online or Desktop) click Federal. On smaller devices, click the menu icon in the upper left-hand corner, then select Federal
  2. Click Rent or Royalty Income in the Federal Quick Q&A Topics menu to expand the category, then click Real estate rental income
  3. Click +Add Federal Schedule E to create a new copy of the schedule, or click Review to edit a copy already created
  4. Choose Property Type from dropdown menu, then click Continue
  5. Click Continue or No until you reach the screen titled Rental Income - Passive Activity
  6. Verify the Nonpassive activity box is not checked and click Continue
  7. On the following screen, titled Rental Income - Active Participant, select Not active participant
  8. Click Continue or No until you reach the screen titled Complete your Schedule(s) E
  9. Click Review, to again review the rental, and click Continue or No as you did before until you reach the screen titled Rental Income - Depletion (you can move through the first section of the screens quicker this second time if you select Jump to Topic for the Depreciation and Amortization: section on the screen titled Rental and Royalty Income - Topics which is on the second screen in the section)