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1099-MISC for Royalties Oil

Where do I enter the royalties and taxes? Should I be entering depletion?

2 Replies
Level 10

1099-MISC for Royalties Oil

If yoy are reporting royalty received on a 1099- MISC
In the panel on the left select Federal

Wages and Income

Other Common Income

Form 1099-MISC

Fill in the information from your 1099-MISC and Continue


To report depletion you would have to upgrade to self-employed and enter the oil as a business. You would include depletion under other expenses.

Level 15
Level 15

1099-MISC for Royalties Oil

You should be able to use the TurboTax FAQ linked below for instructions on entering your royalty income.  


I use the Desktop (CD/Download) edition, and the interview does ask about maintenance fees and does figure depletion.


How do I enter a 1099-MISC for royalty income? 

*** I am NOT a tax expert. I am a seasoned TurboTax user, and volunteer to provide assistance to TT users. Nothing I post is to be considered TAX ADVICE; I bear no legal liability for responses.***
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