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A
amrepa
June 5, 2019
Question

For oil and gas royalties where on Schedule E do you list Production Taxes paid and Other Deductions fees paid for well services?

  • June 5, 2019
  • 2 replies
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    2 replies

    P
    PaulaM
    Employee
    June 5, 2019

    Enter the production taxes under the royalty expense section in the taxes category.

    For other deductions, continue a few more pages and enter them on the page, Any other expenses?

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      T
      Tom D III
      January 25, 2021

      I'm having a difficult time finding where to enter my various 1099misc received from oil companies for my royalties.  I have TurboTax Business but can't find where to enter each individual 1099.  Thanks

      J
      JohnW152
      January 25, 2021

      Please see the TurboTax Help article “How do I enter a 1099-MISC for royalty income?” for guidance on entering oil royalties.

      Royalty income from oil property is reported on Part I, Schedule E.

      T
      Tom D III
      January 25, 2021

      Thanks for reply but I need to enter in 1065 Partnership return for passthrough to partners.

      Any help there?  I'm using TurboTax Business.

      Thanks

      P
      PattiF
      January 25, 2021

      Yes, the royalties for the 1065 Partnership would be entered on Line 7 of the K-1. See link for K-1 form. K-1 Form 1065

       

      After the information is entered on the K-1, the royalties will flow through to Schedule E, Page 2, Part II.

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