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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You can add the other income to your return by typing the information in yourself.
Follow these steps in TurboTax Online:
You could contact the company to see why you were issued the additional income.
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.
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:
However, you could call the company to determine the nature of the 'Other Income'.
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