I have received a 1099-misc that records both royalties and rent. How do I file this on the 1040 form. I am using Turbo tax. I wants me to file this as a business expense even though it is undeveloped family property.
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I have received a 1099-misc that records both royalties and rent. How do I file this on the 1040 form. I am using Turbo tax. I wants me to file this as a business expense even though it is undeveloped family property.
BOTH rent and royalties are reported on Schedule E page #1, as are the legitimate expenses incurred with generating the rent and royalty.
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