Royalty Income ~ My 1099-Misc from Royalty Income lists "other income" can't input amount

Forum|Forum|3 years ago
March 10, 2023
1 reply
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I receive royalty income from oil and gas royalties. On my 1099Misc they sent me, they have "other income" listed on my form. I have no idea what the "other income" is from. They also have my royalty income listed on the 1099-Misc. TT won't input the "other income" in this section. What do I do with the "other income" amount? Thanks in advance for helping me through this muddle.

TurboTax Home & Biz Windows

PattiF

You can add the other income to your return by typing the information in yourself.

Follow these steps in TurboTax Online:

In the Federal section, under Your income and expenses
Scroll to Other Common Income
Select Form 1099-MISC
Follow the Prompts and enter amount in Box 3, Continue
Describe the reason for this 1099-MISC box
Do any of these uncommon situations apply? check last box
Select No, it didn't involve work like my main job on Did the 1099-Misc involve work that's like your main job?
Answer How often did you get income...Although you may receive this income every year, say that you only receive the 1099-MISC only in 2022, not in previous years and not in 2023, you will then have the screen where you can say that it did not involve an intent to earn money.
Select No on Did the1099-MISC involve an intent to earn money?

You could contact the company to see why you were issued the additional income.

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CaddyGrnAuthor

Employee

Thank you for your response so promptly. One follow-up question. I do not use TT online, I am using a desktop version of Home & Biz. Will I follow similar instructions? Thanks in advance.