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pantherchick
New Member

Check This Entry Schedule E Worksheet (rental property): Line 3-1099 misc -- Income from rental real estate and income from royalties must be reported as separate properties on Schedule E.

 
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MichaelDC
New Member

Check This Entry Schedule E Worksheet (rental property): Line 3-1099 misc -- Income from rental real estate and income from royalties must be reported as separate properties on Schedule E.

Unfortunately, you can't report both rental income and royalty income under the same property on Schedule E.

To resolve this, enter two separate properties (activities) under Rental Properties & Royalties.

To find this section in TurboTax, use the Search box at the top right side of the TurboTax header. Enter "schedule e", hit Enter, then click on "jump to schedule e".

Continue to the list of Rental/Royalty Properties.

Review the entries for the Royalty Property that received income on Form 1099-MISC. Be sure you checked the box for "Royalty" in the Property Profile section.

After you've completed this review, add the rental property. You can keep the same address, but enter a different property description and be sure to mark this as "Rental". See screenshot below (click to enlarge).

You can report your expenses under the Rental Property, as well as any other rental income.

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4 Replies
MichaelDC
New Member

Check This Entry Schedule E Worksheet (rental property): Line 3-1099 misc -- Income from rental real estate and income from royalties must be reported as separate properties on Schedule E.

Unfortunately, you can't report both rental income and royalty income under the same property on Schedule E.

To resolve this, enter two separate properties (activities) under Rental Properties & Royalties.

To find this section in TurboTax, use the Search box at the top right side of the TurboTax header. Enter "schedule e", hit Enter, then click on "jump to schedule e".

Continue to the list of Rental/Royalty Properties.

Review the entries for the Royalty Property that received income on Form 1099-MISC. Be sure you checked the box for "Royalty" in the Property Profile section.

After you've completed this review, add the rental property. You can keep the same address, but enter a different property description and be sure to mark this as "Rental". See screenshot below (click to enlarge).

You can report your expenses under the Rental Property, as well as any other rental income.

antistandard
Level 2

Check This Entry Schedule E Worksheet (rental property): Line 3-1099 misc -- Income from rental real estate and income from royalties must be reported as separate properties on Schedule E.

OK I worked out what was wrong.

Make sure that you don't have $0 in your form fields when going through the tax form.

Clear those out so that there is NOTHING in the form fields otherwise the stupid form thinks that $0 should be a number and it'll mindf$@k you until you go insane.

esg970
New Member

Check This Entry Schedule E Worksheet (rental property): Line 3-1099 misc -- Income from rental real estate and income from royalties must be reported as separate properties on Schedule E.

Thanks....that's exactly what you need to do! I was almost ready to print my return and mail it in because it wouldn't let me efile due to the error....I don't think I would have been able to figure it out.

 

For anyone that is experiencing this error, go back to your rental income section on your return and hit the edit button. You will see $0.00 in both box 2 for Royalties and box 3 for Other Income. You need to delete those so there's nothing in either of those boxes. Problem solved.

Critter-3
Level 15

Check This Entry Schedule E Worksheet (rental property): Line 3-1099 misc -- Income from rental real estate and income from royalties must be reported as separate properties on Schedule E.

Correct ... putting in "place holding zeros" in data entry fields  are   not needed in the program or on a paper return 99.9% of the time so don't do it.  

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