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?
I use the Oil & Gas screen and link it to Schedule E.
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.
As long as your tax return is complete and accurate, the method you use to get there isn't important.
"The interest is a royalty interest and not a working interest."
I always double-check that depletion looks right, too.
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