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Level 2
March 19, 2022
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1099 Misc

  • March 19, 2022
  • 1 reply
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How do I report Marcellus Gas Royalties on my return?  TurboTax keeps asking me to complete Schedule C but I don't actually have a business. 

 

    Best answer by PattiF

    Royalties are reported on Box 2 of the 1099-MISC. If there is a number in Box 3, this would cause a Schedule C to be included in your tax return. Verify that they are reported in Box 2 and that they were entered correctly in the return.

    1 reply

    PattiFAnswer
    Level 15
    March 19, 2022

    Royalties are reported on Box 2 of the 1099-MISC. If there is a number in Box 3, this would cause a Schedule C to be included in your tax return. Verify that they are reported in Box 2 and that they were entered correctly in the return.

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