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dn1
New Member

I have already claimed my rental royalties on a 1099-MISC but the system says I need to make an additional for more property, but i have no more property

Schedule E Worksheet: Line 4-1099 misc -- Income from rental real estate and income from royalties must be reported as separate properties on Schedule E.  ---- monies were paid to the property manager, they covered the mortgage and the fees from the property manager.  I made around $20 a month from this property through this but it was not listed on the 1099-MISC provided by my property manager.
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3 Replies
PatriciaV
Employee Tax Expert

I have already claimed my rental royalties on a 1099-MISC but the system says I need to make an additional for more property, but i have no more property

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.

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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I have already claimed my rental royalties on a 1099-MISC but the system says I need to make an additional for more property, but i have no more property

I dont have both royalties and income I ony have 1 of them. Why do i get this f$%#$ing error!!! my furw4wking head is exploding 

 

Carl
Level 15

I have already claimed my rental royalties on a 1099-MISC but the system says I need to make an additional for more property, but i have no more property

So what do you have? Rental income? Or royalty income?

 

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