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Sh1rl
New Member

Is this correct? I got $233 in royalties for a gas well, but it only shows $22 in my review of income.

 
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1 Reply
SabrinaD2
Employee Tax Expert

Is this correct? I got $233 in royalties for a gas well, but it only shows $22 in my review of income.

It sounds like there might be an issue with how the royalty income is being reported. Here are a few things to check to ensure the royalty income is reported correctly:

  1. Log into TurboTax and navigate to the Income section.
  2. Locate the 1099-MISC Form:
    • Click on the pencil icon next to the 1099-MISC form.
    • Make sure Box 2 (Royalties) has the correct amount of $233 entered.
  3. Proceed Through the Questions:
    • Follow the prompts to answer any additional questions related to your 1099-MISC form.
  4. Check for Errors:
    • If the issue persists, go back to the 1099-MISC section.
    • Click the Trash Can icon next to the 1099-MISC form to delete it.
    • Re-enter the information carefully, ensuring all details are correct.
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