Use a separate schedule E for each type payment.[with a unique different name for each]
Specifics for reporting
Box 2 of Form 1099-MISC is reserved for tax reporting related to royalty payments.Part I of Schedule E (Form 1040){select royalty for this] Link to "investment"at the last screen of the 1099-misc section..
Box 1 of Form 1099-MISC is reserved for tax reporting related to rental payments.Part I of Schedule E (Form 1040)[select rental for this] "select "Non business income from the rental of personal property or equipment.
Then after you have made two separate linked Schedule E, go to the Schedule to review and claim any expenses if any.
The major screen page headings to enter rental property information.
federal taxes/ wages & income/I'll choose what I work on"/ rental and royalties/ /view list
I'll choose what I work on
Rental and Royalties Summary
Rental and Royalties Summary click the edit beside the listed property and proceed through the interview.
