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Returning Member
posted Aug 24, 2024 5:06:49 PM

Where do I enter income from royalties?

I'm on TurboTax Desktop, trying to enter royalties from mineral rights, but can't seem to find the spot to do it.

0 2 10873
2 Replies
Level 15
Aug 24, 2024 5:38:55 PM

Which version do you have?  Try here,

Go to Federal Taxes tab

Wages and Income

Choose Explore on my own (if it comes up)

Scroll way down to Rentals and Royalties - click start or update

Level 15
Aug 24, 2024 6:47:18 PM

You generally report royalties in Part I of Schedule E (Form 1040), Supplemental Income and Loss. However, if you hold an operating oil, gas, or mineral interest report your income and expenses on Schedule C.

schedule E is under wages and income > Rental properties and royalties

schedule C is below this under Business items