Royalty Income

[NotGonnaUseThisTaxServiceAgain]

I have royalty income from oil and gas.  I do not have income from renting any part of the property on which the O&G income is produced.  However, TT insists that I enter a value for "rents" of my property, and will not accept a zero value.  I received a 1099-MISC, and have entered all information exactly as it is entered on the form.  I keep getting an endless error loop.  What can I do to fix this error so I can e-file my taxes?

[KrisD15]

Are you selecting "Other" on the "What Type of Rental is This?"

Does Form 1099-MISC have the income in Box 2?

[NotGonnaUseThisTaxServiceAgain]

I have never been prompted to answer "What Type of Rental Is This".  The screen prompt is "What are you here to report?" and then I choose Royalty (the other option is Rental).  And yes, the amount is in Box 1.

[AliciaP1]

Box 1 of a 1099-MISC is for "Rents" payable to you.  It does not represent royalties paid to you (that's box 2).  You need to double-check the information on your form and if you believe it is reported incorrectly on the actual form, you need to contact the payer to issue a corrected 10099-MISC.

@NotGonnaUseThisTaxServiceAgain 

[NotGonnaUseThisTaxServiceAgain]

I am not entering it as Rents.  I am entering it as Royalties, and marking Box 2.  Still cannot complete my return as I am getting an endless loop of "A Link to Schedule C or Schedule E is something we need to get your info in the right place." Then it tells me to go back to income and put in the numbers.  But they're all there, and they're all in the right place.  It is not correctable in the screen where I get the prompt, either.

[PatriciaV]

You may need to visit the Rental and Royalty Properties section of TurboTax to complete the interview for the property that generated the income reported on Form 1099-MISC. For instance, the IRS requires a property address, which is not on the 1099, on the related Schedule E.

The easiest way to find Schedule E in TurboTax is to open your return and click the magnifying glass at the top right side of the TurboTax header. Enter "schedule e", hit Enter, then click "jump to schedule e". This will take you directly to the start of this section.

[Carl]

I am getting an endless loop of "A Link to Schedule C or Schedule E is something we need to get your info in the right place."

Thats usually because you entered it incorrectly the first time. When you enter data in box 1 of the 1099-MISC, the SCH E is created. Therefore, you need to first delete the 1099-MISC. Then you need to go into the Rental and Royalty Income (SCH E) section of the program and delete the SCH E.

Then start over with entering the 1099-MISC from scratch, and enter it in the Rental & Royalty Income section of the program. Be it royalty income in box 1 or rental income a box 2, a new SCH E will be set up correctly then.