Hello. I have received a yellow "letter" from SABINE ROYALTY TRUST. It contains a box indicating where I should place the numbers in a Schedule E. However, I can't seem to find how I go about doing this. This is NOT A PARTNERSHIP. It says, "we are considered a grantor trust, not a partnership and do not have the same reporting requirements that a partnership has. That is why you DO NOT receive a K-1. The cash distributions are reported on a 1099-MISC form by your broker.
So, this already appears and has been imported from my Schwab account. I want to ensure that I am NOT PAYING tax twice on it. But, I can't seem to figure out where to enter the following line items they provided on this sheet:
GROSS ROYALTY INCOME (It says list on Schedule E, line 4)
SEVERANCE TAX (It says to list on Schedule E, line 16)
ADMINISTRATION EXPENSES (It says to list on Schedule E, line 19)
DEPLETION (It says to list on Schedule E, line 18) ... but it says to "calculate manually!" This is a real dilemma!
I am using the desktop version of TurboTax Premier.
Thank you!
