To see the depletion field in the Q&A for a rental property, you will need to indicate a non-active participant within the return.
To reach the Rental Income - Depletion screen:
- From within your TaxAct return (Online or Desktop), click Federal. On smaller devices, click in the upper left-hand corner, then click Federal.
- Click Rent or Royalty Income in the Federal Quick Q&A Topics menu to expand, then click Real estate rental income.
- Click + Add Schedule E, Pg 1 to create a new copy of the form or click Edit to review a form already created.
- Continue with the interview process to enter all of the appropriate information.
- On the screen titled Rental and Royalty Income - Property Type, select from the Property type drop-down, then click Continue.
- On the screen titled Rental Income - Passive Activity, check Nonpassive activity, then click Continue.
- On the screen titled Complete your Schedule(s) E, click Edit to review the rental, then continue until you reach the screen titled Rental and Royalty Income - Topics.
- Click Review on the "Depreciation and Amortization" row, then continue until you reach the screen titled Rental Income - Depletion.