Received oil and gas lease bonus (reported in box 1 of 1099 MISC). Have entered the info in the 1099 MISC section of TT. Could use some guidance in filling out the corresponding Schedule E.
In the Schedule E portion, these are the steps I have done:
1. Select "Rental property."
2. For property description, enter "Oil and Gas Lease Bonus."
3. Question "What type of rental?" Select "Other" and enter "O&G Lease Bonus"
4. Questions about New, Sold, Rented, Converted, Carryovers. Select "None of the above."
5. Questions about number of days rented in 2019. Count the number of days from the time check written to end of 2019.
Does that sound right?
