TomK2023
Expert Alumni

Business & farm

To enter a 1099-MISC for miscellaneous income (Oil Well Royalty):

  1. Open your return.
  2. Click on Federal tab, then Wages & Income.
  3. Scroll down to Other Common Income - Tax refunds, 1099-G, 1099-NEC, 1099-MISC, 1099-K, Click on down arrow.
  4. Click on 1099-MISC Start/Revisit.
  5. Enter info from 1099-MISC form (Payer, Federal ID #, Box 3 amount, etc.), Continue
  6. Enter Description for reason for 1099-MISC; perhaps something like "Oil Well Royalty", Continue. 
  7. On Does one of these common situation apply? page, Click on None of these apply.  Continue.  
  8. Click on "No, it didn't involve work...", Continue.
  9. Click on when you got this income.  Continue.  (If it's once, you're good.  If it's regularly you're back to self-employment income.   
  10. Click on No that you don't have another 1099-MISC (unless you do, of course), Continue
  11. You should land on 1099-MISC Summary page.
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