Schedule E Line 31

ptadolini — Fri, 21 Feb 2025 18:55:15 GMT

I have an oil and gas lease payment which was reported to me on 1099-Misc box 1 (Rents). It is showing up on my schedule E on Line 29 B as a positive number and then on line 31 it is a negative number. What am I missing? Seems pretty straightforward.

Re: Schedule E Line 31

PatriciaV — Mon, 24 Feb 2025 15:12:42 GMT

Schedule E (pg 2) Line 29 b reports losses as a positive number. Line 31 is the total of all losses, displayed as a negative number.

Note that Part II of Schedule E reports income/loss from Schedule K-1, not Form 1099-MISC. Rental income from a mineral lease should appear under Part II, Line 3.

You may wish to review the Sch E Worksheet for this property to be sure the property information is correct.

If you're using TurboTax for Desktop, you can access all forms using Forms Mode. For TurboTax Online, you'll need to download your entire return with worksheets as a PDF. See Can I print a copy of my TurboTax Online return before I file it?

topic Re: Schedule E Line 31 in Get your taxes done using TurboTax

Schedule E Line 31

Re: Schedule E Line 31