Yes, income from oil/gas leases is reported on Schedule E (Rental Properties & Royalties), even if you do not own the property.
To
easily find this area of TurboTax, use the
Search
box at the top right corner of the TurboTax header and enter
"schedule e". Click on the "
jump to schedule e" link to be taken
directly to this area of the program.
Follow
the interview process to enter your
Rental Property, along with income reported on
Form
1099-MISC and any
property taxes you paid. "Other deductions"
reported on Form 1099-MISC (example: production taxes), are entered
under "More Expenses" in the extended interview.
If
TurboTax prompts you to enter an address for the property, use the
actual address if you know it (look on the property tax bill if you have
one). Or use your own address.
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