1099 misc prod. tax

-1rooneyboy — Sat, 01 Jun 2019 08:49:09 GMT

I have a 1099-misc from oil wells and there is a "prod. tax" Where is this entered?

To enter it in Turbo Tax: Go to Business Income & Expe...

CherylW — Sat, 01 Jun 2019 08:49:10 GMT

To enter it in Turbo Tax:

Go to Business Income & Expenses.
Select I'll choose what I work on.
Select Start or Update by Rental Properties and Royalties (Sch E).
Select + Add another rental or royalty property.
Fill out the info on the Is This a Rental Property or Royalty? page.
Choose the type of Royalty.
Enter the royalty income on the next screen.
As you go through the interview, you'll come to a screen Enter Common Expenses. Put your prod. taxes as Taxes.
Continue through the other screens till you get back to the Royalty Summary screen.