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How to change property tagged as a royalty to a rental property?
A rental property I have owned for 20 years has somehow been identified as a royalty this year. I think I mistakenly linked a gas lease 1099 to it. I have moved the 1099 to the correct asset/property and changed the rental property profile to be a rental property but it keeps reverting back to being identified as a royalty asset, not a rental. This is causing errors to trigger in my forms during the review.
How do I change the property profile back to a rental? Or is this a bug?
March 4, 2023
6:02 PM