Question

I recieve royalty payment for mineral removal The same company pays me rent for the use of the property to store waste. Turbo tax requires separate Sch. E. How?

Forum|Forum|4 years ago
April 9, 2022
1 reply
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Both payments are for the same property so Turbo Tax puts them on the same sch. E but then tells me they can't be. How do I create two sch. Es for the same address?

TurboTax Online

KrisD15

Enter the information twice, as if you received two Form 1099's.

Report the rent on one screen and the purchase payment on the other.

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N

nlbakerAuthor

Both items come on the same 1099-MIS

ColeenD3

Yes, treat them as separate. Enter the rent on Schedule E as rent and enter the royalty on Schedule E as a royalty. If the address is holding you up, change a number to make it different for the royalty.