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Oil & Gas Lease money as "Rents" on 1099-Misc.
TurboTax asks -
Is this a rental property or Royalty
Rental
You add the property Description, address, and owner
Click continue
What Type of Rental is This?
Whether you
Raw Land Rented to Others
OR Others (choices)
you are then directed to
Do Any of These Situations Apply - None of the above
Click continue
Was This Property Rented for All of 2019
No, not all year.
Then they want to know fair rental price, days rented, etc.
This is for a one-time oil and gas lease money.
I need an answer please
‎February 5, 2020
10:25 AM