coronjar
New Member

Oil & Gas royalty payments, gross or net amount entered

Apparently, this is a common question.  I, too, have a 1099-Misc. from WPX Energy.  It lists a Gross Amount and a net amount, with over $700 having been deducted from my Gross amount.  I don't see any place to enter the "Revenue Deductions" from the Gross amount, but it doesn't say what the deductions are for, and I did NOT receive the Gross amount in payments, I received the Net amount during 2015.  Which is the correct amount to enter?