Remove the entry that I instructed you to make last night. Go to the Rent and Royalty Summary and select the trash icon next to the entry made. To get there;
- Open your return
- Select Federal>wages and income>
- Rental Properties and Royalties>Rental Properties and Royalties (Sch E)
- Answer the first question Yes.
- Continue until you reach the Rent and Royalty Summary. Here delete the entry you made last night by selecting the trash icon and this will remove all entries in Column C of the Schedule E.
- Now go to the Schedule E in the summary that the original 1099 MISC was linked to and add in the taxes paid, administrative expense, and depletion that i mentioned last night. This will be 15% of the $634, which should be $95.
{Edited 03/31/23} (10:00 PM PST} @blazman
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