PhoebeRoberts
Level 12
Level 12

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.