Problem with Schedule E worksheet regarding 1099MISC.. royalty income

Forum|Forum|5 years ago
March 26, 2021
5 replies
68 views

I received only royalty (no rental) income on this 1099-MISC but TT is saying "rental income and royalty income must be reported as separate properties" and will not allow E-filing of 1040 until this is resolved. How can I fix it?

Not A Product Question

Best answer by ColeenD3

Delete the Schedule E and redo it. You may want to clear cookies and cache, and restart your computer just to make the way as clean as possible.

Here's the general procedure for viewing the forms list and deleting unwanted forms, schedules, and worksheets in TurboTax Online:

Open or continue your return in TurboTax.
In the left menu, select Tax Tools and then Tools.
In the pop-up window Tool Center, choose Delete a form.
Select Delete next to the form/schedule/worksheet in the list and follow the instructions.

ColeenD3Answer

Level 15

Delete the Schedule E and redo it. You may want to clear cookies and cache, and restart your computer just to make the way as clean as possible.

Here's the general procedure for viewing the forms list and deleting unwanted forms, schedules, and worksheets in TurboTax Online:

Open or continue your return in TurboTax.
In the left menu, select Tax Tools and then Tools.
In the pop-up window Tool Center, choose Delete a form.
Select Delete next to the form/schedule/worksheet in the list and follow the instructions.

larryhittAuthor

Level 2

Coleen,

Thanks, I never would have found that solution!

Larry

chimeramouse

Level 2

I am having the same problem as described.

1099-MISC Royalty payment in box 2.

This is not a rental property, or my own business. It was a payment on a research invention, IP.

Do still need to create a new Schedule E?

PattiF

Level 15

Yes, if you are having a problem e-filing your return, follow the instructions from @ColeenD3:

Delete Schedule E and redo it. You may want to clear cookies and cache, and restart your computer just to make the way as clean as possible.

Here's the general procedure for viewing the forms list and deleting unwanted forms, schedules, and worksheets in TurboTax Online:

Open or continue your return in TurboTax.
In the left menu, select Tax Tools and then Tools.
In the pop-up window Tool Center, choose Delete a form.
Select Delete next to the form/schedule/worksheet in the list and follow the instructions.

Then reenter the 1099-MISC to create a new Schedule E.

With your return open, search for 1099-MISC and select the Jump to link in the search results.

When you enter your 1099-MISC, enter the income in box 2 - Royalties. On the following screen, choose the source of your royalty income:

Investment income from property you own – This includes natural resources extracted from your property by a third party who leases your property, as well as royalties from intellectual property that you didn't create yourself. This gets reported on Schedule E.

Once you've selected the proper classification, follow the onscreen instructions.

@chimeramouse

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