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Oil Lease Royalties
I receive royalty payments from oil and gas leases. These are reported to me on 1099-MISC forms, so I enter them when prompted to enter 1099-MISC amounts. But later on in the Turbotax program, under “Rents and Royalties,” it proves a space to enter oil lease royalties. Should I enter these royalty amounts there, too? Or is entering them at the 1099-MISC enough?
February 14, 2025
1:22 PM