AmyC
Expert Alumni

Get your taxes done using TurboTax

I am going to assume that you went into the schedule E, got frustrated and left. Follow these steps:

  1. Open your return
  2. Go to the rental section
  3. continue to the summary
  4. select Property Profile
  5. Select Royalty property or payment
  6. Enter description - keep it simple
  7. Location - select U.S. or Foreign
  8. Enter Royalty address and owner
  9. continue
  10. All income on return? probably a yes as this is most common
  11. What type of Royalty Income? select your type
  12. Enter income from 1099-Misc
  13. Check the box if there was no tax withheld on your form, which is the most common.
  14. Depletion allowance is calculated for you
  15. select Finished

@GregZeimetz 

 

 

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