1099-NEC

[cigar6]

I'm 65 and NOT working.  I received a 1099-NEC this year from my investment in oil & gas exploration.  Besides the required header information this form only has one box.  BOX 1 (non employee compensation).  But when I do my return I get errors for not filling in the rest of the blocks with "NO ENTRY", because I only have one box. So I do I fix this?

[Vanessa A]

The royalties should have been reported on a 1099-Misc instead of the NEC.  To properly enter this so the income goes on Schedule E, instead of choosing the 1099-NEC entries under Other Common Income select 1099-Misc then select yes you received one then enter the royalties in box 2. 

[cigar6]

THANK YOU!  Now I have to figure out why I received a NEC instead of a MISC.  Have a great day!