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How to book depletion on a non-working interest

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    #1

    How to book depletion on a non-working interest

    Taxpayer is a family limited partnership with a farm, a bunch of brokerage accounts, and some oil & gas leases (non working interest), all of which I keep books on for the tax return. What do I offset the depletion income against?

    Thanks!

    Jill
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