You are allowed to deduct any expenses directly related to this income. Select your Royalty income then select this expense. This can be entered under 'Miscellaneous expenses'. It will show up under your expenses, click Start or Review Simply enter your description and the amount. See the image below.

Question

I am trying to enter production taxes on mineral rights under royalties but there isn't any place to enter it. Where do I enter it?

Forum|Forum|2 years ago
February 12, 2024
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D

DianeW777

You are allowed to deduct any expenses directly related to this income. Select your Royalty income then select this expense.

This can be entered under 'Miscellaneous expenses'.
It will show up under your expenses, click Start or Review
Simply enter your description and the amount. See the image below.

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Rocky1023Author

I entered the productions taxes under Other Taxes. However, even though I entered all information from the 1099-Misc forms for rents and royalties, when I ran a review I am now being told that rents and royalties cannot be on the same Schedule E. Does this mean I need to make a separate Schedule E? If so, how do I do that?