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February 9, 2025
Question

Is this correct? I got $233 in royalties for a gas well, but it only shows $22 in my review of income.

  • February 9, 2025
  • 1 reply
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    1 reply

    February 10, 2025

    It sounds like there might be an issue with how the royalty income is being reported. Here are a few things to check to ensure the royalty income is reported correctly:

    1. Log into TurboTax and navigate to the Income section.
    2. Locate the 1099-MISC Form:
      • Click on the pencil icon next to the 1099-MISC form.
      • Make sure Box 2 (Royalties) has the correct amount of $233 entered.
    3. Proceed Through the Questions:
      • Follow the prompts to answer any additional questions related to your 1099-MISC form.
    4. Check for Errors:
      • If the issue persists, go back to the 1099-MISC section.
      • Click the Trash Can icon next to the 1099-MISC form to delete it.
      • Re-enter the information carefully, ensuring all details are correct.