turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

Where to report oil and gas royalties

 
Connect with an expert
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Reply
DanielV01
Expert Alumni

Where to report oil and gas royalties

It depends.  If the royalties are produced from passive activity (such as, you own land, and someone else drills, but you get paid for the yield), the royalties are reported on Schedule E.  However, if you are responsible for the royalty income (such as you provide the equipment to drill the field and receive royalties for the yield), then you report them on Schedule C.  Either way, TurboTax can assist you to enter this in the correct place.  Please see this FAQ for more information on this:  https://ttlc.intuit.com/replies/4792182

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
Manage cookies