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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!
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1 Reply
Carl
Level 15

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.

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