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I have a form that is a substitute 1099 misc form and am not sure where to put it. It is gas royalities which I paid tax on.

 
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1 Reply
JohnR
New Member

I have a form that is a substitute 1099 misc form and am not sure where to put it. It is gas royalities which I paid tax on.

Hi,   Natural gas royalties are reported on Sch. E. Please follow the steps below to enter these into TurboTax. 

1)    Sign into TurboTax Online

2)    Start your return if you have not yet or continue your return by click Taxes > Tax Timeline > Continue your return.

3)    Click search in the upper right hand corner of the screen.

4)    Type “royalties” and click enter.

5)    In the search results click on “Jump to royalties”

After you enter the royalty income in Part I of Schedule E (Form 1040) [enter gross amount] section, it will be followed by the royalty expenses section where you can enter things like production taxes, mineral property taxes, production costs, depletion, etc.["More expenses"  radio button generally on depletion screen.]Generally royalties are ordinary income.

Navigate to the  Schedule E for the royalty and enter your expenses.


6)    Follow the prompts

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