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Get your taxes done using TurboTax
Instead of entering this under Real Estate, you can manually enter the net royalty income using Forms Mode.
- Click the Forms icon in the TurboTax header.
- Open Form 1065 p5-6.
- On Line 7, enter the net royalty income in the yellow box under "Direct Entry."
- This income will be allocated to the partners on Schedule K-1 Line 7.
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‎February 26, 2025
5:54 PM