Deductions & credits

I'm pretty sure you did not own stock in those entities (due to getting a 1099-MISC) but owned units in a royalty trust treated as grantor trust for income tax purposes. in this case the royalty info is reported on schedule E page 1- revenue, expenses including depletion. you should have received supplemental info from the trust because, if I am correct, you are entitled to a depletion deduction against the royalty income and that supplemental form will tell how to compute it. it could be cost or % depletion

cost depletion allows you to write off part of the cost of your investment. 

 

somewhere in that brokerage statement should be the name of the entity or you can look at you monthly brokerage statements. Then you can then search the web using the name to get contact info.  

 

 

 

 

 

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