Using TurboTax Home and Business 2021, I can't overcome a Smart Check error detection:
"Schedule E Worksheet (100 N. Nugent Ave) Line 4-Royalty Income - Income from rental real estate and income from royalties must be reported as separate properties on Schedule E."
I have reported no royalties whatsoever. The box on the Schedule E worksheet is being automatically marked "0" by the software, theoretically from an error on the supporting K-1 (business profit) or 1099-MISC (rent paid). Can anyone help me overcome this issue that threatens to delay my submission?
-John
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Please review Schedule E, pg1 (all copies) to confirm that no property under Line 1b has Type of Property #6 (Royalty), then check Line 23B on Copy 1 to confirm there is no Royalty Income from any source.
If you find a Royalty Property (#6) or Royalty Income, you can trace the source down by right-clicking the amount and choosing "Data Source." In some cases, you will go through more than one source to find the actual entry.
Note that Lines A, B, C under Line 1b relate to Columns A, B, C on Line 4.
Please review Schedule E, pg1 (all copies) to confirm that no property under Line 1b has Type of Property #6 (Royalty), then check Line 23B on Copy 1 to confirm there is no Royalty Income from any source.
If you find a Royalty Property (#6) or Royalty Income, you can trace the source down by right-clicking the amount and choosing "Data Source." In some cases, you will go through more than one source to find the actual entry.
Note that Lines A, B, C under Line 1b relate to Columns A, B, C on Line 4.
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