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mcarthura-l
New Member

Should the source of income be marked royalties even though I have no business or schedule c

My 1099 misc is from Royalties on an old well (oil/gas) that started up. I have no business or actual property as it's only mineral rights. The only box marked on the 1099 is 2 and then the State boxes. I'm stuck on the Source of income

which option would be correct - investment income from property or Royalties from business etc.?

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Accepted Solutions
Phillip1
New Member

Should the source of income be marked royalties even though I have no business or schedule c

In this situation, I would choose the investment income from property. That choice should trigger the program to report the income and expenses (and guide your through the necessary screens) through schedule E.

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1 Reply
Phillip1
New Member

Should the source of income be marked royalties even though I have no business or schedule c

In this situation, I would choose the investment income from property. That choice should trigger the program to report the income and expenses (and guide your through the necessary screens) through schedule E.

View solution in original post

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