Tax Year 2020 - Schedule E asking for royalty income during review

[asifesbhani]

During review, Schedule E shows an error. Because we don't have any Royalty income, I enter a 0 in schedule E. But Turbo Tax doesn't like it and keeps showing Royalty income error. Please help

[WendyN2]

If you do not have any royalty income, you should not enter anything there, not even a zero. I am not sure what is prompting the system to "think" you have royalty income, but here is a way to check this:

1.  At the top of your screen while in your account, click on the "Federal Taxes"  tab and make sure you are then in the "Wages and

     Income" section. 

2.  Then scroll down until you see "Rental Properties and Royalties" and click on "Start" or "Edit" - whichever is showing there for you,

     based on what you may have already entered, and then at the summary page that states at the top "Rental and Royalty Summary" -

     click on the "Edit" button to the right of the property listed and see what is checked off on the next screen that pops up "Is this a Rental

     Property or a Royalty". 

     NOTE - in order to get to this you might need to advance to the page titled "Review Your XXXX Rental Summary" and then click on

     "Update" to the right of "Property Profile" and you will see there what the property is being classified as - this is the same screen as

     stated above ("Is this a Rental or Royalty...") just found a slightly different way depending on how much you have or have not entered

     into the system. Do this for each "property" listed on that summary page if you have more than one to make sure that you have not     

     accidentally indicated that it is a royalty and not a rental property. This will clear up the confusion that the system is having in thinking

     that you have a royalty to update. 

[nsnixon]

i have the same issue.  i followed these steps and cannot get rid of this error.  there are no royalties for this schedule K-1 this year.  any other suggestions?

[JoannaB2]

Yes.  If no royalty income received in 2020, go back to the form and check the K-1 entries, delete any zeros, and leave the line blank.  If your done, you may do a federal review to check for any other error's:

1. In Tax Home Screen, click Federal.
2. Jump to Federal Review.
3. Under Federal review, it will display the error/s on your federal income tax.
4. Click each review, it should take you to the line that had error/s.
5. Once fixed, go back to Federal Review to check if it's ready to e-file.