@DaveF1006 , from Federal Taxes -> Wages & Income -> Source of 1099-MISC Income, there is (a) "Royalty investment income from a natural resource, intellectual property or other investment portfolio (no operating interest)" and (b) "Royalty income from being self-employed as a writer, inventor, artist etc. or operating any business derived from natural resources (Schedule C)". I chose 'a'.
Regarding your #6 below, before getting to "Oklahoma Adjustments", I entered in "Oklahoma Income", "Oklahoma Amount". Afterwards, Oklahoma Adjustments -> "Depletion recapture on a lease bonus on non-producing properties with a lease expired this year and/or add back of excess Federal depletion". For "Depletion Recapture", I have "Total Amount" and "Oklahoma Amount". If my Line 2 Royalties is $1200, then 15% depletion of $1200 is $180 and 22% of $1200 is $264. Therefore, $264-$180=$84 is my excess?? Do I put this number in both "Total Amount" and "Oklahoma Amount"? Is this correct?
Thank you,
Tulane
