topic Tax Year Prior to 2020: Schedule E for rental property: TT Premier keeps asking a value to be entered on Line 4 (Royalty Income), even though rental activity does not receive royalties income in Get your taxes done using TurboTax

Tax Year Prior to 2020: Schedule E for rental property: TT Premier keeps asking a value to be entered on Line 4 (Royalty Income), even though rental activity does not receive royalties income

DrSherman — Mon, 22 May 2023 21:37:54 GMT

Hello,

During the error check review, TT Premier keeps asking a value to be entered on Line 4 (Royalty Income), even though my rental activity does not receive royalties income - A Schedule E was created by TT Premier to report income and expenses for my rental property.

I tried overriding the zero there (replacing it with a blank), but this error (and another one I posted in a different question) keeps coming up. I really don't know why it is asking for a royalty amount.

Thoughts?

Thanks!

Re: Schedule E for rental property: TT Premier keeps asking a value to be entered on Line 4 (Roya...

VictorW9 — Mon, 16 Mar 2020 03:14:30 GMT

Go back to TurboTax and select edit to go to your property profile. You may have selected the royalty option instead of the rental. Now the system is asking you to provide the royalty income you may have inadvertently selected.

Re: Schedule E for rental property: TT Premier keeps asking a value to be entered on Line 4 (Roya...

DrSherman — Tue, 17 Mar 2020 01:36:19 GMT

Thanks! For some reason, "Enter royalties received (not reported elsewhere)" and "Royalty income from Schedule K-1" had both a zero. Removing it did the trick.

Re: Schedule E for rental property: TT Premier keeps asking a value to be entered on Line 4 (Roya...

john2023 — Sun, 12 Mar 2023 03:41:34 GMT

OMG...Thank you DrSherman. your comment about removing the zero worked. I tried everything else and was going crazy over this.

Re: Schedule E for rental property: TT Premier keeps asking a value to be entered on Line 4 (Roya...

caliguian — Thu, 13 Apr 2023 15:37:18 GMT

Although I couldn't find the question regarding Royalties in the walk-through area related to our rental property, removing the 0, and having a blank instead, in the final review process that was stopping me from filing did the trick. Thanks!