- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
How do I report a royalty interest distribution on an account summy statement in lieu of 1099?
This interest is an inheritance I recently became aware of. On the statement it showed a Royalty Interest of $1,491 and Working Interest of $431 (statement says working interest was not reported to the IRS or to the state of KS because it was below $600, royalty interest was reported to both IRS and state of KS. Thanks for your help!
Topics:
1 Reply
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
How do I report a royalty interest distribution on an account summy statement in lieu of 1099?
Just work it through the Rental & Royalty Income (SCH E) section of the program. If asked if you received a 1099-MISC, select NO and press on.
Still have questions?
Make a post
Or browse the Forums