Entering marginal oil production percentage depletion rates (1040)

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MFA required for electronic filing

Effective May 3rd, the 2017 version of UltraTax CS requires multi-factor authentication (MFA) to transmit e-files from CS Connect. Find out more.

To enter marginal oil production percentage depletion rates:

  1. Choose Setup > 1040 Individual.
  2. Click the Other Return Options button.
  3. Click the Other tab and enter a rate in the Depletion: Marginal oil production percentage depletion rate field.

If you do not enter a rate in this field, UltraTax CS defaults to the current IRS value for the depletion rate for oil and gas properties.

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