Re: Schedule E

I am getting an error message on Line 4 of schedule E regarding royalty income from Schedule K-1. I only have the rental property listed and K-1 info was completed in another section. How do I correct. It is showing zero value in Red and I cannot change it. thx

posted

Do you have rental property that you own and report all income/expenses for the rental on SCH E as a part of your personal 1040 tax return? (I am assuming YES, and you need to confirm my assumption is 100% correct)

Do you have royalty income that was reported to you in box 7 of a 1065 - K1 or in box 6 of an 1120-S K1? (I am assuming YES, and you need to confirm my assumption is 100% correct)

If both of my assumptions are correct, then on the SCH E you can not have an amount on line 3 and line 4 *IN THE SAME COLUMN." That's a no-no.