Oil and gas lease income

glennfam17 · ‎June 4, 2019

I can't see where to properly enter this income. It is not royalty income and it is not rental income. Where do I report this??

JohnR · ‎June 4, 2019

Hi, that.s 1099 MISC oil and gas lease income

In the top menu bar of your Turbo Tax, please select Federal Taxes and then Wages and Income.
Start or Edit at Income from Form 1099-MISC.
You will now be at the correct interview process for this entry.

View solution in original post

Carl · ‎June 18, 2020

If this income is reported to you on a 1099-MISC in box 1 or 2, then it's reported on SCH E. It's either rental income (box 1) or royalty income (box 2). Otherwise, what tax reporting document do you have for this income and what box is it reported in on that form?

Oil and gas lease income

Investors & landlords

Investors & landlords