turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

yukonzach
New Member

Are mineral rights considered "real" or "tangible" personal property?

I do not own the land, just the mineral rights.  I am asking b/c I have sold the rights and need to know if that qualifies for the Oklahoma capital gain "Exclusion from income".  I have had the rights for 20 years.

Thank you!

Connect with an expert
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Reply

Are mineral rights considered "real" or "tangible" personal property?

That is really more of a legal question than a tax question. However, since mineral rights are a severed portion of the land rights themselves (they're separated from the land's "surface rights" and sold separately by deed, just like the land itself), they are usually considered real property.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
Manage cookies