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.
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1 Best answer
PattiF
Expert Alumni
Mar 19, 2022 1:26:22 PM
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 Replies
PattiF
Expert Alumni
Mar 19, 2022 1:26:22 PM
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.