Hi,
I receive royalties from WY, but the payers address on the 1099-misc is OK.
On Schedule E, should I be entering the address of the payer as, OK? That does not seem correct, shouldn't it be WY. Otherwise, TurboTax will think the royalties are from the wrong state.
I don't want to just alter the address. Is there an option to tell TT the royalties are from WY, not, OK?
Thank you
If TurboTax prompts you to enter an address for the property, use the actual address if you know it (look on the property tax bill if you have one). Or use your own address. The IRS instructions say address lines 1 and 2 should be left blank, but sometimes the program won't let you continue without an address.
See IRS Instructions for Schedule E.
I keep running across this statement for Schedule E:
TurboTax does Not like it if I leave those address fileds blank. So, I changed a couple of the addresses to different states & that did not change the outcome. I am beginning to wonder how important those address fields are when it comes to Royalties.
Thanx
If TurboTax prompts you to enter an address for the property, use the actual address if you know it (look on the property tax bill if you have one). Or use your own address. The IRS instructions say address lines 1 and 2 should be left blank, but sometimes the program won't let you continue without an address.
See IRS Instructions for Schedule E.