topic I sold o&g royalty. Purchaser sent a 1099-MISC "other income". How do I input "income" and then zero it out to satisfy IRS? Will report it as cap gain. in Self employed

I sold o&g royalty. Purchaser sent a 1099-MISC "other income". How do I input "income" and then zero it out to satisfy IRS? Will report it as cap gain.

STV01 — Mon, 23 Feb 2026 11:17:20 GMT

If I don't report it as "other income", IRS will flag it. If I show "in and out" of income and then report as capital gain, reporting will be correct. How do I report a negative income item?

Re: I sold o&g royalty. Purchaser sent a 1099-MISC "other income". How do I input "income" and then zero it out to satisfy IRS? Will report it as cap gain.

Anonymous_ — Mon, 02 Jan 2023 02:06:53 GMT

In TurboTax, it is difficult to enter and then offset miscellaneous income on Schedule 1.

You can try entering the income as a royalty property on Schedule E and then offset the income entirely as an Other (miscellaneous) expense.