Do I report capital gains from sale of oil & gas royalties?

[mary2of7]

I sold my oil & gas royalties only in 2017, I did not own or sell the actual land they were on. Do I need to pay capital gains tax for that and where do I report it?

[MichaelL1 · Accepted solution]

Yes, this is considered an Investment sale and is reported as shown below:

To enter your Investments sold

Click on Federal Taxes

Click on Wages and Income

Click on I'll choose what I work on

Scroll down to Investments

On Stocks, Bonds, Other, click the start or update button