@ Gavin34 wrote:
I purchased Turbo Tax 2020 from Staples. In the interview I entered the data for all of my Schedule E properties. Then I entered the 1099-MISC form which arrived in the mail later. This caused the taxes owed to jump from $6,507 to $11,278. This does not seem correct.
Is the 1099-MISC associated with your Schedule E properties? Is it rental or royalty income?
Where in the interview did you enter the 1099-MISC? There are a couple of places one can enter a 1099-MISC. It can be entered as one goes through the Schedule E rental/royalty interview, or it could be entered in a separate topic called "1099-MISC and Other Common Income" and then linked to Schedule E. Obviously, you wouldn't want to enter it in both places.
If you had already entered the data in the rental/royalty interview, and then entered a 1099-MISC are you sure you haven't reported the income twice? Have you gone into Forms Mode and looked at the Schedule E Worksheet to see if you can get a clue as to what is happening?
