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?
02531
1 Best answer
KittyM
Level 2
Jun 5, 2019 3:23:38 PM
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.
2 Replies
KittyM
Level 2
Jun 5, 2019 3:23:38 PM
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.