Level 11
09-17-2024
01:53 PM
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Your client has a Form 1041 Sch K-1, reporting oil & gas royalty income (probably as a component of Line 5)? Use the O&G input section.
Your client has a publicly traded investment in something called a royalty trust? Ask them to give you the five bazillion page booklet explaining how to calculate all the numbers. It tells you exactly what line everything should show up on.