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christywv
Returning Member

Natural Gas Royalties

I have added all the appropriate information for the natural gas royalties and I keep getting this response and it will not let me go any further.  

 

It says that the 1099 MISC shows an amount of $431but this is not reported on another form or schedule and then it takes me to a few questions.  The first screen just shows the 1099 MISC information and then it asks about the source of the royalty income and I answer that it is royalty investment income.  It then takes me back to the error that the income is not reported on any form.  I am not sure what to do.

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1 Reply
PatriciaV
Expert Alumni

Natural Gas Royalties

Your best option is to delete (trashcan icon) the 1099-MISC that you have entered under the Other Common Income topic. Go instead to Rental Properties and Royalties Income topic. 

 

Add a Royalty Property with oil and gas income. Continue through the prompts to "Let's enter the income for [name of property]" and check the box for Form 1099-MISC. After you enter your income, be sure to enter any expenses that were reported with the form (usually on the back or a separate sheet).

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