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L
lj3-suddenlink-n
April 7, 2023
Question

I receive the Royalties from a property I sold 20 years ago. I no longer have the property but receive the oil Royalties. I need the proper form to enter these Royalties?

  • April 7, 2023
  • 1 reply
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1 reply

P
PattiF
April 7, 2023

The royalties are entered on Schedule E. 

 

To enter the royalties on Schedule E:

  1. Open your return
  2. Go to Wages & Income
  3. Scroll to Rentals, Royalties & Farm, Click Show more
  4. Click Start for Rental Properties and Royalties (Sch E)
  5. Did you have any income from rental or royalties? Answer Yes
  6. What are you here to report? Choose Royalty
  7. Answer the questions for the royalty. Even though you do not own the property, you are claiming the royalties for the address reported

If you received a 1099-MISC for the royalties, follow the instructions in this TurboTax Help article.

 

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