PaulaM
Employee Tax Expert

Investors & landlords

Enter under the Rental Properties and Royalties section. You don't have to own the property and this is the section it belongs in.

Navigate to the section and answer questions regarding the property, then enter the 1099-MISC (gross amount) in the Royalty summary. 

Note: Be certain to deduct any production taxes, depletion (15%) and any other expenses you have. You will only want to pay taxes on the net amount you received, not the 1099-MISC gross. Any additional depletion that your state may allow (OK does) will be an adjustment under your state taxes.

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