https://ttlc.intuit.com/community/taxes/discussion/oil-lease-royalties/01/3483598#M1288724 <P>I receive royalty payments from oil and gas leases. These are reported to me on 1099-MISC forms, so I enter them when prompted to enter 1099-MISC amounts. But later on in the Turbotax program, under “Rents and Royalties,” it proves a space to enter oil lease royalties. <STRONG>Should I enter these royalty amounts there, too? Or is entering them at the 1099-MISC enough?</STRONG></P> Fri, 14 Feb 2025 21:22:24 GMT jdfrazee 2025-02-14T21:22:24Z https://ttlc.intuit.com/community/taxes/discussion/oil-lease-royalties/01/3483598#M1288724 <P>I receive royalty payments from oil and gas leases. These are reported to me on 1099-MISC forms, so I enter them when prompted to enter 1099-MISC amounts. But later on in the Turbotax program, under “Rents and Royalties,” it proves a space to enter oil lease royalties. <STRONG>Should I enter these royalty amounts there, too? Or is entering them at the 1099-MISC enough?</STRONG></P> Fri, 14 Feb 2025 21:22:24 GMT https://ttlc.intuit.com/community/taxes/discussion/oil-lease-royalties/01/3483598#M1288724 jdfrazee 2025-02-14T21:22:24Z https://ttlc.intuit.com/community/taxes/discussion/re-oil-lease-royalties/01/3483636#M1288733 <P>Entering them through the 1099-MISC is all you needed to do as long as you indicated the payments were for royalties. &nbsp;The other option is to enter royalties for which you did not receive a 1099-MISC.</P> <P>&nbsp;</P> <P><SPAN style="background: var(--ck-color-mention-background); color: var(--ck-color-mention-text);"><a href="https://ttlc.intuit.com/community/user/viewprofilepage/user-id/4614055">@jdfrazee</a></SPAN>&nbsp;</P> Fri, 14 Feb 2025 21:42:44 GMT https://ttlc.intuit.com/community/taxes/discussion/re-oil-lease-royalties/01/3483636#M1288733 RobertB4444 2025-02-14T21:42:44Z