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Royalty Income ~ My 1099-Misc from Royalty Income lists "other income" can't input amount

I receive royalty income from oil and gas royalties.  On my 1099Misc they sent me, they have "other income" listed on my form.  I have no idea what the "other income" is from.  They also have my royalty income listed on the 1099-Misc.  TT won't input the "other income" in this section.  What do I do with the "other income" amount?  Thanks in advance for helping me through this muddle.

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3 Replies
PattiF
Expert Alumni

Royalty Income ~ My 1099-Misc from Royalty Income lists "other income" can't input amount

You can add the other income to your return by typing the information in yourself. 

 

Follow these steps in TurboTax Online:

  • In the Federal section, under Your income and expenses
  • Scroll to Other Common Income
  • Select Form 1099-MISC
  • Follow the Prompts and enter amount in Box 3, Continue
  •  Describe the reason for this 1099-MISC box
  • Do any of these uncommon situations apply? check last box
  • Select No, it didn't involve work like my main job on Did the 1099-Misc involve work that's like your main job?
  • Answer How often did you get income...Although you may receive this income every year, say that you only receive the 1099-MISC only in 2022, not in previous years and not in 2023, you will then have the screen where you can say that it did not involve an intent to earn money.
  • Select No on Did the1099-MISC involve an intent to earn money?

You could contact the company to see why you were issued the additional income.

 

 

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Royalty Income ~ My 1099-Misc from Royalty Income lists "other income" can't input amount

Thank you for your response so promptly.  One follow-up question.  I do not use TT online, I am using a desktop version of Home & Biz.  Will I follow similar instructions?  Thanks in advance.

MarilynG1
Expert Alumni

Royalty Income ~ My 1099-Misc from Royalty Income lists "other income" can't input amount

If your 1099-Misc has both Royalty Income in Box 2 and Other Income in Box 3, you can report the 'Other Income' in TurboTax Desktop as follows:

 

  • Wages & Income
  • Scroll all the way down to Miscellaneous Income, 1099-A...
  • Scroll all the way down to Other Reportable Income, Other Taxable Income
  • Enter a Description and Amount 

However, you could call the company to determine the nature of the 'Other Income'.

 

@CaddyGrn 

 

 

 

 

 

 

 

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