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New Member
posted Apr 5, 2025 11:43:58 AM

How do I enter deductions from Royalties on 1099-MISC for Oil and Gas lease?

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1 Replies
Expert Alumni
Apr 6, 2025 6:19:44 AM

To report the royalties you received on Form 1099-MISC for the Oil and Gas lease:

 

  1. Go to search and type rentals or royalties
  2. Click the Jump to link
  3. Be sure you checked the box for "Royalty" in the Property Profile section
  4. You can report your expenses under the Rental Property