Where you enter the 1099-MISC Royalty income depends on the source of the income.
If this is from Investment property such as natural resources that are extracted by a third party who leases your property or from intellectual property that you did not create, this would be reported on Schedule E. If you are not actively earning this income, it will go on Schedule E.
To enter on the schedule E, go to personal income and select 1099-MISC,
- Enter Payer and Federal number then Royalties in Box 2 and Continue
- Click box for Investment income from property that you own
- Enter source of income next and follow the prompts
If this is from natural resources that you extract from property that you own, then this would be reported on a schedule C. If you inherited property from your dad that has natural resources that you are extracting, then it would be self employment income.
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