Oil and Gas Depletion deduction for California in 2024

Forum|Forum|11 months ago
April 9, 2025
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If a person has oil and gas royalty income and they take a percentage depletion deduction of 15 percent for federal purposes, do they need to show a deduction of zero for California purposes and if so, how do you do it in TurboTax? Starting in 2024 California does not allow a deduction for percentage depletion for oil and gas income.

PatriciaV

Employee

Yes. Go to the California state interview and click "Start/Edit" beside "Income and Adjustment."

On page "Here's income that California handles differently," scroll to the bottom of the page and click Start beside "Other Adjustments to Income."
Enter a description and an ADDITION for the amount of percentage depletion claimed on your federal return.

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