1099-Misc

[Niedling]

I recieved a $19 rotality from a gas well and recieved a 1099-misc.  Do I really need  to file tax forms E or C?  This really isn't a business for me.  I am taking standard deductions.

[Kat]

I'm sorry, but yes...you do have to report the income on your tax return.  A copy of the 1099-MISC is sent to the IRS, so they'll be looking for it on your return.

To enter this 1099-MISC, use the instructions I'm linking below.

How do I enter a 1099-MISC for royalty income? 

[DMarkM1]

Yes, you will file a schedule E to report the Royalty payment since it is over $10. 

In the "Wages & Income" tab

1. Scroll down to the Rentals Royalties and farm topic
2. "Show More"
3. "Start/Revisit" the "Rental/Royalty schedule E" topic