1099 MISC

[bbauman]

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?

[ColeenD3 · Accepted solution]

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

1. Search for Royalty and then click the "Jump to" link in the search result.
2. Answer Yes to the question Did you have any rental or royalty income and expenses?
3. Follow the on-screen instructions as you proceed through the royalties section.

You can enter a 1099-MISC on the 1099-MISC Summary screen.

1. Sign in to TurboTax and select Take me to my return.
2. Click "search" and search for 1099-misc.
3. Select the Jump to 1099-misc link in the search results.
4. Select Yes to Did you get a 1099-MISC?
   • If you need to enter another 1099-MISC, select Add Another 1099-MISC to enter a new one.
5. Enter the information from your 1099-MISC.
   • If your form has an amount in more than one box, you’ll need to enter them as separate 1099-MISC forms. We’ll help you with that.

[fwmerkley]

Where's this "Jump-to" button everyone is talking about?

[VolvoGirl]

Here's a screen shot.  Click on the search icon to open the side box (at least on my desktop)  

Then type in 1099-misc and click the search button again to bring up the list