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dyerr6
New Member

How do I add gas well royalties in turbo tax. I do not own the land?

I do not own the land just the mineral rights. I entered the 1099 Misc and it wants me to change to Schedule C. This is not my business.
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3 Replies
TeresaM
Expert Alumni

How do I add gas well royalties in turbo tax. I do not own the land?

You will report the gas well royalties in the Wages and Income section. (You will need the Premiere or Self-Employed version of TurboTax for rents or royalties)

 

  1. Scroll down to Rentals, Royalties, and Farm and select Show More
  2. Rental Properties and Royalties (Sch E)  and Start or Revisit
  3. Select Royalty and it will walk you through the entry


     
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dyerr6
New Member

How do I add gas well royalties in turbo tax. I do not own the land?

I did this and filled out everything and but it still gives me and error message in box 2 it says it needs to be on Schedule C. 

TeresaM
Expert Alumni

How do I add gas well royalties in turbo tax. I do not own the land?

It may still be giving an error from the original entry. Please check the Delete Forms list and see if there is a duplicate Form 1099-MISC.

 

To delete a duplicate form,  you can use Delete Forms

 

  1. In the left menu, select Tax Tools
  2. Select Tools
  3. Select Delete a form
  4. Scroll to the Form 1099-MISC that is duplicated and click Delete on the right
  5. Then scroll to the bottom and select Continue with my return
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