Where do I enter my 1099-Misc Royalty income from gas and oil revenue? I do not own the property only the mineral rights...(actually only a portion) the only options I am given are: It says I have to choose:
- Investment income from property you own – This includes natural resources extracted from your property by a third party who leases your property, as well as royalties from intellectual property that you didn't create yourself. This gets reported on Schedule E.
- Royalty income from a business you own. Artist royalties or operating a natural resource company.
I DO NOT operate a natural resources company... and I don't own physical land. So which choice do I make?
Thanks in advance for answers and clarity!
