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ejerry
New Member

Can I take credit for severance tax listed as supplemental information but not included on 1099-Misc listing only gross amount of oil royalties received?

 
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Cindy0H
New Member

Can I take credit for severance tax listed as supplemental information but not included on 1099-Misc listing only gross amount of oil royalties received?

Yes, you can enter the severance tax under common expenses.

Here is where to enter the royalties:

  • Federal
  • Wages & Income
  • REnts, Royalties, & Farm
  • Rental Properties and Royalties (Sch E)

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      1 Reply
      Cindy0H
      New Member

      Can I take credit for severance tax listed as supplemental information but not included on 1099-Misc listing only gross amount of oil royalties received?

      Yes, you can enter the severance tax under common expenses.

      Here is where to enter the royalties:

      • Federal
      • Wages & Income
      • REnts, Royalties, & Farm
      • Rental Properties and Royalties (Sch E)
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