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March 26, 2023
Question

Source of 1099-Misc, royalty income. What do I choose if I don't own property?

  • March 26, 2023
  • 1 reply
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1 reply

JohnB5677
March 26, 2023

Royalties and rental property are both reported on Schedule E.  However, TurboTax does make a clear distinction.

 

Follow these steps:

  1. On the menu bar on the left that shows.
    1. My Info
    2. Federal
    3. State
    4. Review
    5. File
  2. Select Tax Tools
  3. On the drop-down select Tools
  4. There will be 4 green boxes
  5. Select Tax Topics
  6. Type Royalties
  7. This will bring you to the Royalties input section.

 

Continue to answer the interview questions. and it will come to a point to enter the 1099-Misc form.

Post your information.

 

If this does not completely answer your question, please contact us again and provide some additional details.

 

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