If you are entering the income directly (not from a Form 1099-MISC), when you begin the entry for either there is a selection box to choose rental or royalty income (see image attached).
When using the TurboTax (online or desktop version) use these steps:
- Select the Federal Taxes tab
- Select Wages & Income
- Scroll
to Rental Properties and Royalties
- Start to complete the entry of your income (image
attached for review)
- Continue
to follow the program to enter any income and expense
