Why sign in to the Community?

  • Submit a question
  • Check your notifications
Sign in to the Community or Sign in to TurboTax and start working on your taxes
New Member
posted Feb 3, 2020 9:29:33 PM

I received $421 in 2019 for an oil lease on a property in OK. I have not received any paperwork from the oil/gas co. Do I need to file this on Schedule E?

0 1 581
1 Replies
Level 15
Feb 4, 2020 7:36:18 AM

The payor is not required to issue you a 1099-MISC if they paid you less than $600 in the tax year. But that does not negate your requirement to report the income. So you will still report the income on SCH E.