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kdboubel
New Member

1099-MISC oil and gas royalties. Gross Royalties under $300. Severance Tax and Other Deductions listed o 1099. Where do I enter the Other Deductions?

 
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view2
New Member

1099-MISC oil and gas royalties. Gross Royalties under $300. Severance Tax and Other Deductions listed o 1099. Where do I enter the Other Deductions?

 Review the Schedule E in Turbotax after entering through the 1099 MISC incomes then you can enter things like production taxes, mineral property taxes, production costs, depletion, etc.["More expenses"  radio button generally on depletion screen.]

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3 Replies
view2
New Member

1099-MISC oil and gas royalties. Gross Royalties under $300. Severance Tax and Other Deductions listed o 1099. Where do I enter the Other Deductions?

 Review the Schedule E in Turbotax after entering through the 1099 MISC incomes then you can enter things like production taxes, mineral property taxes, production costs, depletion, etc.["More expenses"  radio button generally on depletion screen.]

1099-MISC oil and gas royalties. Gross Royalties under $300. Severance Tax and Other Deductions listed o 1099. Where do I enter the Other Deductions?

Turbotax self employed version will not allow me to view a "Schedule E after entering through the 1099".  These deductions are common - why does this option not exist as you "walk me through everything"?  This year's turbotax has been a disappointing time sink.
wish88
New Member

1099-MISC oil and gas royalties. Gross Royalties under $300. Severance Tax and Other Deductions listed o 1099. Where do I enter the Other Deductions?

I agree
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