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

[mcarthura-l]

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.?

[Phillip1 · Accepted solution]

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.