We received $47 from an oil well my husband's mother left us. There are no expenses associated with this. Therefore I don't have any info to put on a schedule E.

[katandrog]

Why does it keep insisting I have to file a Sch E?  It is not a business.  It's like interest on a savings account...

[DawnC0 · Accepted solution]

Royalty income, which is what you have, is reported on Schedule E.  Schedule E, Supplemental Income and Loss is used to report profits and losses from K-1s as well as income and expenses from rental property and certain types of royalty income.

When you enter income from a K-1, rental property, or non-business royalty, TurboTax will automatically generate Schedule E.

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Business royalties that are received from operating a natural resource business go on Schedule C.