If it is an easement, you don't claim it as income, rather you subtract it from your basis.
For example,
(Disregarding Homeowner capital gain exclusion, so just to illustrate a point)
If you purchase a home for 200,000 and sell for 250,000 you would have a 50,000 gain. (250,000 - 200,000 = 50,000)
If you are paid 1,000 a year for 10 years and then sell, you would subtract that 10,000 from your basis. Now your cost for the property is only 190,000
Now you would have a 60,000 gain (250,000 - (200,000 - 10,000) = 60,000)
How have you been reporting the rent on past year returns?
You can just "ignore" the rent reported on the 1099-MISC, but the IRS might inquire about it.
I suggest you enter it, and then subtract it out with an explanation for the IRS to follow.
You will have to enter the 1099-MISC like two forms, one for the royalties.
Enter it a second time under "Other Common Income"
You will need to enter the amount as if it were reported in Box 3 or the program will show an error.
You will need to select No to like your work, No to intent to make money and No to any other year except the year you are filing for.
(These are TurboTax questions NOT IRS questions, so this is not anything you could get into trouble for, you're just trying to get the 1099-MISC to show so the IRS can match it)
The amount will be on Schedule 1 as other income.
Next, subtract it out.
Go back to the Wages & Income section
Scroll down to the VERY LAST option "Less Common Income" and click Show more
On this new drop-down list scroll down to the VERY LAST option "Miscellaneous Income" and click START
Now scroll down to the VERY LAST option "Other reportable income" and click Start
Select YES on the "Any Other Taxable Income?" screen
Type "Easement on 1099-MISC " and the amount but as a NEGATIVE (put - in front of the number)
This NEGATIVE amount will negate that rent amount.
Keep good records and be sure to keep this in mind when you sell. It may or may not matter at that time.
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