On the 1099-Misc -oil royalties I received, do I show the amount of taxes if in a non numbered box in the Other Taxes? On monthly reports shown as Owner's Taxes?

posted

Connect with an expert

1 Best answer

Accepted Solutions

On the 1099-Misc -oil royalties I received, do I show the amount of taxes if in a non numbered box in the Other Taxes? On monthly reports shown as Owner's Taxes?

Yes, if you know the amount shown is for taxes on your royalties and they were included in your Gross Royalty income, then you may deduct them as Other Taxes.

View solution in original post

2 Replies

On the 1099-Misc -oil royalties I received, do I show the amount of taxes if in a non numbered box in the Other Taxes? On monthly reports shown as Owner's Taxes?

Yes, if you know the amount shown is for taxes on your royalties and they were included in your Gross Royalty income, then you may deduct them as Other Taxes.

On the 1099-Misc -oil royalties I received, do I show the amount of taxes if in a non numbered box in the Other Taxes? On monthly reports shown as Owner's Taxes?

Thank you for your help.

Still have questions?

Questions are answered within a few hours on average.

Post a Question

*Must create login to post

Expert does your taxes

Do it yourself

Resources

Support

On the 1099-Misc -oil royalties I received, do I show the amount of taxes if in a non numbered box in the Other Taxes? On monthly reports shown as Owner's Taxes?

On the 1099-Misc -oil royalties I received, do I show the amount of taxes if in a non numbered box in the Other Taxes? On monthly reports shown as Owner's Taxes?

On the 1099-Misc -oil royalties I received, do I show the amount of taxes if in a non numbered box in the Other Taxes? On monthly reports shown as Owner's Taxes?

On the 1099-Misc -oil royalties I received, do I show the amount of taxes if in a non numbered box in the Other Taxes? On monthly reports shown as Owner's Taxes?

Unlock tailored help options in your account.

Get more help

Do you have a TurboTax Online account?

On the 1099-Misc -oil royalties I received, do I show the amount of taxes if in a non numbered box in the Other Taxes? On monthly reports shown as Owner's Taxes?

Do you have an Intuit account?

On the 1099-Misc -oil royalties I received, do I show the amount of taxes if in a non numbered box in the Other Taxes? On monthly reports shown as Owner's Taxes?

On the 1099-Misc -oil royalties I received, do I show the amount of taxes if in a non numbered box in the Other Taxes? On monthly reports shown as Owner's Taxes?

On the 1099-Misc -oil royalties I received, do I show the amount of taxes if in a non numbered box in the Other Taxes? On monthly reports shown as Owner's Taxes?

Unlock tailored help options in your account.

Get more help

Related Content