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Tax Year Prior to 2020: Schedule E for rental property: TT Premier keeps asking a value to be entered on Line 4 (Royalty Income), even though rental activity does not receive royalties income

Hello,

 

During the error check review, TT Premier keeps asking a value to be entered on Line 4 (Royalty Income), even though my rental activity does not receive royalties income - A Schedule E was created by TT Premier to report income and expenses for my rental property.

 

I tried overriding the zero there (replacing it with a blank), but this error (and another one I posted in a different question) keeps coming up. I really don't know why it is asking for a royalty amount.

 

TT Support-2.png

Thoughts?

 

Thanks!

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4 Replies
VictorW9
Expert Alumni

Tax Year Prior to 2020: Schedule E for rental property: TT Premier keeps asking a value to be entered on Line 4 (Royalty Income), even though rental activity does not receive royalties income

Go back to TurboTax and select edit to go to your property profile. You may have selected the royalty option instead of the rental. Now the system is asking you to provide the royalty income you may have inadvertently selected.

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Tax Year Prior to 2020: Schedule E for rental property: TT Premier keeps asking a value to be entered on Line 4 (Royalty Income), even though rental activity does not receive royalties income

Thanks! For some reason, "Enter royalties received (not reported elsewhere)" and "Royalty income from Schedule K-1" had both a zero. Removing it did the trick.

john2023
New Member

Tax Year Prior to 2020: Schedule E for rental property: TT Premier keeps asking a value to be entered on Line 4 (Royalty Income), even though rental activity does not receive royalties income

OMG...Thank you DrSherman. your comment about removing the zero worked. I tried everything else and was going crazy over this. 

Tax Year Prior to 2020: Schedule E for rental property: TT Premier keeps asking a value to be entered on Line 4 (Royalty Income), even though rental activity does not receive royalties income

Although I couldn't find the question regarding Royalties in the walk-through area related to our rental property, removing the 0, and having a blank instead, in the final review process that was stopping me from filing did the trick. Thanks!

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