I Have royalties, but no longer own the land? Where is the income reported? The form sent is 1099-Misc, OMB - 1545-0115

[Anonymous]

schedule e page 1 as type 6

[ThomasM125]

You report the royalty income in the "Rental Property and Royalties (Sch E)" section in TurboTax, like you did when you owned the land. Just click on the "Rental Income" option and you will see an option to enter your form 1099-MISC.

All royalty income is reported on schedule E, even if you do not own the land.

[Carl]

Just click on the "Rental Income" option and you will see an option to enter your form 1099-MISC.

Not quite. Work it through  the Rental & Royalty Income (SCHE) section of the program. By default, it will have "rental income" selected. Change it to Royalty Income. For the address, there is absolutely no requirement that you own it in any way, form or fashion. So enter the address. If there is no mailing address for the royalty you were paid (such as mineral rights on vacant land) then just enter your own home address. The IRS does not care about the address or where the royalty is located. They only care that you report the income and pay your taxes on it.