623728
You'll need to sign in or create an account to connect with an expert.
Inherited property is not taxable. But income derived from inherited property is taxable. You have to report this royalties income on your tax return.
The problem is, Turbo Tax Deluxe version for claiming the 'source' of Royalty Income has only 2 options:
-- Owner of property
-- Business dealings
Neither of which are applicable to a simple Inheritance from an Estate, so how can I get this Misc Income entered correctly?
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
Boyan
Level 4
kunkel0
New Member
meade18
New Member
atn888
Level 2
WyomingClimber
Level 1