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foxtwo
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I cannot get Turbo Tax to accept a 1099 MISC, for rent; it is a lease for oil mineral rights.

 
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Accepted Solutions
view2
New Member

I cannot get Turbo Tax to accept a 1099 MISC, for rent; it is a lease for oil mineral rights.

Box 2 of Form 1099-MISC is reserved for tax reporting related to royalty payments.Part I of Schedule E (Form 1040){select royalty for this] Link to "investment"at the last screen of the 1099-misc section..

Box 1 of Form 1099-MISC is reserved for tax reporting related to rental payments.Part I of Schedule E (Form 1040)[select rental for this]  "select "Non business income from the rental of personal property or equipment.

Then go to the linked Schedule E to review

federal taxes/ wages & income

rental and royalties=start/update

Follow prompt.


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1 Reply
view2
New Member

I cannot get Turbo Tax to accept a 1099 MISC, for rent; it is a lease for oil mineral rights.

Box 2 of Form 1099-MISC is reserved for tax reporting related to royalty payments.Part I of Schedule E (Form 1040){select royalty for this] Link to "investment"at the last screen of the 1099-misc section..

Box 1 of Form 1099-MISC is reserved for tax reporting related to rental payments.Part I of Schedule E (Form 1040)[select rental for this]  "select "Non business income from the rental of personal property or equipment.

Then go to the linked Schedule E to review

federal taxes/ wages & income

rental and royalties=start/update

Follow prompt.


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