Turbotax won't let me proceed because it thinks my rental property is a royalty property

Forum|Forum|4 years ago
April 16, 2022
1 reply
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how do i fix rental versus royalty property?

TurboTax Self Employed Online

PattiF

If you received a 1099-MISC that reported rents that you received in box 1, you should check how you entered the form. If you entered an amount in Box 2, that would be for a royalty.

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Carl11_2

Employee

Another thing also. If you received a 1099-MISC reporting rental income in box 1 *and* royalty income in box 2, you will need to enter the information "AS IF" you received two 1099-MISC forms... one reporting income in box 1 for the rental, and a 2nd 1099-MISC reporting income in box 2 for the royalty payment.

ianrosaaen

I completed the 1099-MISC for royalty income. I entered royalty income in box 2. I also identified the rental property to which the royalty is associated (required by the form). The royalty income correctly appeared in the Sched. E worksheet for a single-family rental property. TT thinks the rental is a royalty. Do you see anything I should do differently? Thank you.