turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

jdp2322
New Member

Will TT fix the interview related to 1099-MISC? It is wrong to require a schedule C. For mineral rights, use sched E and then handle the tax & supplies calculations.

Last year I had an accountant do my taxes so I see how they were handled for the 1099-MISC.  I'm not sure (yet) how the tax & supplies for the mineral rights were calculated on the schedule E.  But if I fill out the schedule and also the interview with the 1099-MISC, it adds the income from the mineral rights twice and then requires a schedule C

Connect with an expert
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

3 Replies
DawnC0
Intuit Alumni

Will TT fix the interview related to 1099-MISC? It is wrong to require a schedule C. For mineral rights, use sched E and then handle the tax & supplies calculations.

Is the income in Box 2 of your 1099-misc?
jdp2322
New Member

Will TT fix the interview related to 1099-MISC? It is wrong to require a schedule C. For mineral rights, use sched E and then handle the tax & supplies calculations.

Yes
DawnC0
Intuit Alumni

Will TT fix the interview related to 1099-MISC? It is wrong to require a schedule C. For mineral rights, use sched E and then handle the tax & supplies calculations.

If you enter your 1099-MISC with royalty income in box 2 in the Rental Properties and Royalties section, see images attached, the income will go to Schedule E.  Once the property is set up, you can add income (from 1099) or expenses.

If you enter the 1099-MISC in the Other Common Income section and indicate income in Box 2, you will be prompted to set up your royalty property on Schedule E also.  

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
Manage cookies