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Dereedy51
New Member

Gas Royalties reported on 1099-MISC

What is the correct place to enter the royalty income?

I entered it in Rental and Royalties which prompted an entry in 1099-MISC but this results in duplication of this income.  Once as 1099-MISC as the gross amount and once as the Rental and Royalties income as the net amount. 

I have started over three times on entering this and have not been successful in eliminating the duplication.

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1 Reply
MonikaK1
Employee Tax Expert

Gas Royalties reported on 1099-MISC

If you went to the Royalties section to enter the income, and you only entered it as coming from a Form 1099-MISC within that section, TurboTax doesn't duplicate the income. The section will ask if you received income other than from the 1099-MISC as well.

 

When you enter a 1099-MISC in the Royalties section, it will also be listed in the 1099-MISC section, but the income is not duplicated. If you made an additional entry in the Form 1099-MISC section, besides the one made in the Royalties section, this could result in duplicated income.

 

You can preview your return before filing to review the forms that TurboTax has prepared from your entries and to find out how your taxes were calculated, to confirm whether the Royalty income was duplicated on the return. See here for details. 

 

Sometimes, an Internet or browser issue may be responsible for a delay in seeing corrected information. In that case, you may need to log out of the program, clear your cache and cookies, and log back in. Please see the TurboTax FAQ here for instructions on clearing your cache. See here for instructions on clearing your cookies. You may also try using another browser or using the phone app here if the above does not work.

 

If, after taking these steps, you still see a problem with the way the Royalty income appears on the return, please reply again with details.

 

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