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February 11, 2021
Question

I have a 1099 for gas royalty I received a gross total of 995.66 but only received a net of 708.12. Company gave me paperwork&they have deductions of 287.54do I enter it?

  • February 11, 2021
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February 11, 2021

Open your return in TurboTax and go to Federal, Wages and Income and select the Edit/Add button on the line Rental Properties and Royalties (Sch E)

 

 

On the next screen click on Add another rental or royalty.  Then,  select the Royalty box and click Continue.

 

You will be able to enter your information related to the royalty and the income and expense.  TurboTax will prompt you step by step for the information.