1099 misc prod. tax

[-1rooneyboy]

I have a 1099-misc from oil wells and there is a "prod. tax" Where is this entered?

[CherylW]

To enter it in Turbo Tax:

1. Go to Business Income & Expenses. 

2. Select I'll choose what I work on. 

3. Select Start or Update by Rental Properties and Royalties (Sch E). 

4. Select + Add another rental or royalty property. 

5. Fill out the info on the Is This a Rental Property or Royalty? page. 

6. Choose the type of Royalty. 

7. Enter the royalty income on the next screen. 

8. As you go through the interview, you'll come to a screen Enter Common Expenses.  Put your prod. taxes as Taxes. 

9. Continue through the other screens till you get back to the Royalty Summary screen.