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1099 MISC for Royalty payments
I received a 1099 MISC for Royalty payments on oil leases. In addition to the royalties in Box 2, there is a column for Deductions From Revenue which includes amounts for Production Taxes and Other Revenue Deductions. Can I deduct that amount from the royalties paid, and where do I do that?
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‎February 5, 2020
11:19 AM