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New Member
posted Jun 6, 2019 3:27:56 AM

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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New Member
Jun 6, 2019 3:27:58 AM

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.

1 Replies
New Member
Jun 6, 2019 3:27:58 AM

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.