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Level 3
posted Feb 5, 2020 7:10:17 AM

Schedule Es - can I group like items together

Receive oil and gas royalties from multiple companies...small amounts from many companies.  The amounts reported on 1099 MISC range from $3 - $200.  Should I create one Schedule E per company or is it permissible to create one Schedule E titled something like "Oil and Gas Royalties" and link all 1099 MISC to that one?  

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1 Best answer
Expert Alumni
Feb 8, 2020 2:36:52 PM

Yes you can group similar royalties together so that you do not have to create a separate Schedule E for each one.  When you enter the 1099-MISC, you will be able to Select which Schedule to apply it to (the page says Rent or Royalty Income) then it will assign the income to that form.

1 Replies
Expert Alumni
Feb 8, 2020 2:36:52 PM

Yes you can group similar royalties together so that you do not have to create a separate Schedule E for each one.  When you enter the 1099-MISC, you will be able to Select which Schedule to apply it to (the page says Rent or Royalty Income) then it will assign the income to that form.