11144
The following diagnostic is generating:
S-Corporation # {PrefixNum} : This S-Corporation has entries for depletion and tax preference items related to oil and gas, but also has properties tied to it in the Oil and Gas input screen. The properties in the Oil and Gas screen already account for the depletion and preference items related to the S-Corporation. You should remove the depletion and tax preference inputs from the S-Corporation or the depletion expense may be overstated.
Solution:
Click on the diagnostic from the Diagnostics tab and remove entries in the Oil & Gas section of the S-Corp for depletion. Or note the S-Corp number on the diagnostic and navigate to Income>Screen 20 Passthrough K-1s, pick the S-corp noted in the diagnostic. Scroll to the Oil & Gas section. Remove entries for depletion.
