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February 27, 2022
Question

1099-MISC Rent vs royalties

  • February 27, 2022
  • 1 reply
  • 0 views

I received a 1099-MISC Form from an energy company that installed a wind turbine on my

land in 2021.    On the same Form, a payment was listed in Box 1 as Rent and another payment was listed in Box 2 as Royalties.

Where do I report these two payments?

    1 reply

    JohnB5677
    February 27, 2022

    The two payments will be reported as separate income on a Schedule E.

    1. Go to Wages & Income
    2. Scroll to Rentals, Royalties, and Farm
    3. Select Rental Properties and Royalties (Sch E)
    4. Did you have any income from rentals or royalties? = Yes
    5. What are you here to report? = Rental = Continue
    6. Continue through the interview until 
    7. Let's enter the income from your 1099-MISC
    8. Check the Box My form has other info in boxes 1-17.
    9. You can now enter both the Rent and Royalty

     

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