I received a 1099 Misc from an oil company with Box 2 Royalties in one state and Box 7 Nonemployee compensation in another state. The first state had state income tax withheld, the second did not. Both had deductions and production taxes on the back of the form. Should I enter one form into TurboTax or 2?
You can take the information from the single 1099-Misc that you received, but you will need to enter amounts appropriately to two different forms You will need to enter the information that pertains to the Royalty on Schedule E.
You will also need to separate the information that belongs to SE income (Box 7) and enter it on Schedule C.
Royalty
You can enter a 1099-MISC on the 1099-MISC Summary screen.
You can take the information from the single 1099-Misc that you received, but you will need to enter amounts appropriately to two different forms You will need to enter the information that pertains to the Royalty on Schedule E.
You will also need to separate the information that belongs to SE income (Box 7) and enter it on Schedule C.
Royalty
You can enter a 1099-MISC on the 1099-MISC Summary screen.
Where's this "Jump-to" button everyone is talking about?