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sblakeley57
New Member

When reporting mineral royalties, do I enter the true net royaltis I received or the gross royalty reported in box 2?

 
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MichaelL1
Level 15

When reporting mineral royalties, do I enter the true net royaltis I received or the gross royalty reported in box 2?

You report the gross in Box 2 and then claim expenses for the difference in the gross and the amount actually received. 

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1 Reply
MichaelL1
Level 15

When reporting mineral royalties, do I enter the true net royaltis I received or the gross royalty reported in box 2?

You report the gross in Box 2 and then claim expenses for the difference in the gross and the amount actually received. 

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