Re: I received oil and gas royalties from mineral rights. When filling out Schedule E, are minera...

I received oil and gas royalties from mineral rights. When filling out Schedule E, are mineral rights considered an asset? Should I check the box for royalty property?

I don't own the land, just the mineral rights.

posted

Mineral rights are real property (an asset) that can be bought, sold or leased like any other real estate. Do not check the box for royalty property since you do not own the land.

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