Question

I receive Form 1099 MISC from ABC Company for XYZ Royalty. However, nothing ever appears on Schedule E, Part I, B (A). This line comes out blank with Turbo Tax.

Forum|Forum|4 years ago
December 30, 2021
1 reply
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A well from a specific oil company does not show on that line. The dollar amounts appear correctly identified as "6" (a royalty), but no name of well or payor, just blank.

TurboTax Premier Online

M

mglauner

You can Edit your Royalty entry to add a name/address for your oil well.

In the Income & Expenses section, scroll down to Rental Properties and Royalties (Sch E).
Choose EDIT to the right of your Royalty on the Rentals and Royalties Summary page.
Choose Oil & Gas and Continue.
You are asked if you made any payments that required a 1099 form and if you distributed part of your royalty to another party.
Continue to 'Review your Royalty Info' and choose Edit under General Info.

You should then get a screen where you can enter a Royalty Name/Address.