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Business & farm
No K-1, just a 1099-Misc with info in box 2 and box 3 for from 1 drilling company with whom I have working interest and participate in the drilling cost. I have working interest with another drilling company and received an 1099-NEC from that well investment but “non-participating” owner. It is my understanding that these incomes should be reported as SELF-EMPLOYEED (SE) business form SCH-C.
March 19, 2022
3:15 PM