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Royalties are entered on a separate Schedule E from a rental property. If you do not have any royalty income, delete the Schedule E for a royalty.
Click on Federal
Click on Wages & Income
Under Rentals, Royalties, and Farm
On Rental Properties and Royalties (Sch E), click on the start or Revisit button
I have both rental properties and a royalty on another property. The error said that "Income from rental real estate and incomel from royalities must be reported as separate properties on Schedule E." Is there a bug in turbo tax that does not separate them? if so, will there be an update? If not, how can I separate them?
@bhatcher42069 When you started the entry in the rentals and royalties section of the program, you were specifically asked if this was a rental property or a royalty property. You then completed the section based on what you selected. After completing your entries you would then have to select the type of property again.
To enter rental income, expenses and rental asset depreciation -
Click on Federal Taxes (Business using Home & Business)
Click on Wages and Income (Business Income and Expenses using Home & Business)
Click on I'll choose what I work on
Scroll down to Rental Properties and Royalties
On Rental Properties and Royalties (Sch E) , click on the start or update button
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