Trust return prep

[nacbarbour]

How do I enter 1099 Misc income for oil and gas royalties on a trust return?  Do I use the Oil and Gas link or is it entered through the Sch E link?

[PhoebeRoberts]

I use the Oil & Gas screen and link it to Schedule E.

[nacbarbour]

Thanks.  I ended up starting data entry using the Sch E screen. Then I chose royalties and filled in more such a 1099 expenses shown on the 1099 and then in the Oil and Gas section filled in more information. Do you see any pitfalls to this?  The interest is a royalty interest and not a working interest.

[PhoebeRoberts]

As long as your tax return is complete and accurate, the method you use to get there isn't important.

[qbteachmt]

"The interest is a royalty interest and not a working interest."

I always double-check that depletion looks right, too.