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New Member
posted Apr 2, 2023 10:10:51 AM

I received $16 in royalties from a stock, I don't own property or own the business, there are no other choices offered. Where should this misc amount be reported?

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2 Replies
Level 15
Apr 2, 2023 10:41:04 AM

It sounds like you’re talking about stock dividends.  To enter dividend information in TurboTax Premier Online:

  1. If you don’t see 2022 TAXES in the left pane, select the dropdown to the right of Income & Expenses on the Hi, let’s keep working on your taxes! page and then select Let’s get started, Pick up where you left off, or Review/Edit. 
    • Otherwise, in the left pane, select Federal, then Wages & Income 
  2. Scroll down and select the Show more dropdown to the right of Investments & Savings 
  3. Select Start or Revisit to the right of Dividends on 1099-DIV
  4. Select Yes on the Did you receive any investment income? screen, then select Continue
    • If you see either the Your investments & savings or Here's your 1099-DIV info screen, select Add investments or Add another 1099-DIV as appropriate, then select Continue
  5. On the Let's import your tax info screen, choose Enter a different way
  6. On the OK, let's start with one investment type screen, select the Dividends box, then select Continue
  7. On the How would you like to upload your 1099-DIV? screen, select the Type it in myself box
  8. Enter all of your information

However, if these are actually royalties of some sort: 

  1. If you don’t see 2022 TAXES in the left pane, select the dropdown to the right of Income & Expenses on the Hi, let’s keep working on your taxes! page and then select Let’s get started, Pick up where you left off, or Review/Edit
    • Otherwise, in the left pane, select Federal, then Wages & Income 
  2. Scroll down and select the Show more dropdown to the right of Rentals, Royalties, and Farm
  3. Select Start or Revisit to the right of Rental Properties and Royalties (Sch E)
  4. Answer Yes on the Did you have any income from rentals or royalties? page 

Continue through the ensuing pages, providing all information as appropriate.

 

The entry procedure above should be used to populate your Schedule E, and includes

  • Rental property income and expenses
  • Natural resource royalties (oil, gas, timber, etc.)
  • Intellectual property income.

New Member
Apr 2, 2023 2:44:52 PM

Thank you so much for the information, at closer inspection it's a 1099 misc, because it's tucked in the middle, I thought it was a 1099-B.

Headache resolved!