Royalties are supposed to be reported on Schedule E.
This is how to enter that in TurboTax:
- Select Federal from the left side menu.
- Select Wages and Income toward the top left.
- Scroll down/ expand the list and look for Rentals and Royalties.
- Expand that section and find Rental Properties and Royalties (Sch E).
- Click Start on the right.
- Answer the first question Yes.
- Select Royalties on the right, click Continue.
- Enter the name and address from your 1099-MISC.
- Select Other intangible as your type and click Continue.
- Answer the next few questions.
- When you get the screen that says, Let's enter the income from your 1099-MISC, enter your gross royalty in box 2.
- If you have associated expenses, you can enter them in the screen that follow.
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