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gladenterprises
New Member

It keeps telling me on schedule E that I need to list separate address for rents and royalties, but they are on the same property. It won't allow me to proceed.

 
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Accepted Solutions
MichaelL1
Level 15

It keeps telling me on schedule E that I need to list separate address for rents and royalties, but they are on the same property. It won't allow me to proceed.

Due to the tax treatment of rental versus the Royalties income, IRS has you show this as two properties.  

So you will enter the 1099Misc twice, one showing only the rental income and expenses, and then once with Royalty income and expenses (and depletion if applicable). 

No income will be duplicated and expenses will be listed in either Rental and Royalties but not twice.

Post a comment if this does not resolve this. 

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1 Reply
MichaelL1
Level 15

It keeps telling me on schedule E that I need to list separate address for rents and royalties, but they are on the same property. It won't allow me to proceed.

Due to the tax treatment of rental versus the Royalties income, IRS has you show this as two properties.  

So you will enter the 1099Misc twice, one showing only the rental income and expenses, and then once with Royalty income and expenses (and depletion if applicable). 

No income will be duplicated and expenses will be listed in either Rental and Royalties but not twice.

Post a comment if this does not resolve this. 

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