No, don't delete Schedule E. Since you have both rental property and royalty income for the same address, you should have two Schedule E worksheets. However, they will be combined on Schedule E unless you have different property descriptions.
If you're using TurboTax for Desktop:
- Go to Tools >> Forms and find "Schedule E Wks (property address)."
- Click to open in the large window.
- At the top of the form under General Information, add either "Rental" or "Royalty" to the property description line.
- Repeat for the other Sch E Wks.
- Now open Schedule E, p1 and confirm you have two entries on Line 1 with the same address.
- One should have a "1" on Line 1B and the other should be "6."
In TurboTax Online, you will need to revisit the Rental/Royalty section and edit the property description for your two properties.
- Go to Federal >> Wages & Income >> Rental Properties and Royalties (click Add/Edit.
- Click Edit (pencil icon) beside the rental property.
- Click the pencil icon under the House in the page header (Rental Property Info).
- Under General Info, click Edit under the name.
- Add "Rental" to the end of the nickname and continue.
- Continue back to the list of properties and repeat editing the nickname to add "Royalty."
If you've paid for your TurboTax Online return, you can save a PDF with all forms and review Schedule E to confirm the properties are reported separately. See: Can I print a copy of my return in TurboTax Online before I file it?
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