Under oil and gas leases, I'm asked what percentage I own. I inherited several very old leases and have no idea. Can I leave this blank?

[PatriciaV]

Is this royalty income from gas leases or do you have a working interest? For royalty lease income, be sure you entered the amount in Box 2 of Form 1099-MISC (Royalties). When you enter Box 2, in most cases you should not need to enter the ownership percentage, just the address. Your entries here are reported on Schedule E.

However, if Form 1099-MISC reports income that is shared with other beneficiaries, you will need to know the percentage of the total inherited property that belongs to you. This doesn't refer to the ownership of the gas lease, just your portion of the estate.

Working Interest income is reported on Schedule C and is taxed as self-employment. In this case, you will need to know your ownership percentage and enter much more information.

See this article for more help: How do I enter a 1099-MISC for royalty income?

[kandmmurray]

The two leases from which I received income in 2025 date to the 1920s. To my knowledge, they were first owned by my step-grandfather. My grandmother inherited them on this death and my Dad did subsequently. I bought several leases from my Dad's estate. I have received income for around 20 years and I have never seen the percentage of ownership question. My husband has aa third lease with a different history and that lease was divided among a number of heirs. Is one lease usually owned by one person or more than one? I've just assumed the owners are a group. Taxes were reported on 1099-MISC for all three. Total gross income for all three is less than $  100. Doesn't seem like this is worth the hassle of phoning the landsmen (or whatever) to find the ownership percentage. Should I? Thank you for your help.

[MarilynG1]

If this is not a 'working interest' for you but just a lease payment, enter the amount in the 1099-Misc in Box 2 to avoid ownership % questions. Income will be reported as 'royalties' on Schedule E.

Here's more info on Oil and Gas Lease Income.

@kandmmurray