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Investors & landlords
Thank you, that was very helpful. I have one additional related question that you may be able to help with. This particular property is held for Royalty purposes. But, in addition to Royalties, it receives Lease Bonus Income which gets classified in the 1099 as Rental. I am unclear how to denote the property, is it a Royalty Property or Rental Property. Turbo tax has no option for both. Perhaps I need to enter the 1099 twice, once for each?
‎February 13, 2022
9:26 AM