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sg1269
New Member

Gas well royalty

I want to enter the amount for a simple royalty payment but the tax software keeps telling me to upgrade because it is a business income, and it really is not. how do I enter it?
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RyanH2
New Member

Gas well royalty

Royalty Income and Deductions are reported on Schedule E (Rental Properties & Royalties). You will need the Premier version of TurboTax Online in order to include this schedule with your return. If you'd rather stick with Deluxe, you will need the CD/Download version for desktop, which includes Schedule E.


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2 Replies
RyanH2
New Member

Gas well royalty

Royalty Income and Deductions are reported on Schedule E (Rental Properties & Royalties). You will need the Premier version of TurboTax Online in order to include this schedule with your return. If you'd rather stick with Deluxe, you will need the CD/Download version for desktop, which includes Schedule E.


mowgrass1
New Member

Gas well royalty

I've done all this and completed Schedule E, but your main Premier program does not differentiate between rental and royalty income when transferring from Schedule E; thus recorrds only expenses.  Do I manually type in the royalty income?

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