turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

pjburke2
New Member

Natural gas lease royalties on a 1099-MISC

Trying to enter 1099-MISC amounts that I received as royalties from a natural gas well lease. Turbotax is trying to make me fill out Schedule C which is for a business. I am not a self-employed business and I'm renting property. How do I correctly enter this income as well as deduct the operating costs indicated on the 1099-MISC form which are not in one of the numbered boxes?
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Reply
Patrice
New Member

Natural gas lease royalties on a 1099-MISC

When you enter income from non-business royalty, TurboTax will automatically generate Schedule E. Once you've selected the proper classification, follow the onscreen instructions. You'll be prompted to set up your royalty property in the Rents and Royalties section or the Business Income and Expenses section, depending on which classification it falls into. (see attached screenshots)

https://ttlc.intuit.com/replies/4792182

Unlock tailored help options in your account.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question