I received a 1099-Misc from a pipeline company that included permanent easement and damages. How is this reported?

[ggalzerano]

The total amount is reported in Box 1, Rents of the 1099-Misc.  Is the amount related to damages taxable?

[MichaelL1]

The amount for damages can be applied against the cost of the repairs that you had to do.

The permanent easement is treated as a sale and if the cost of the land is high enough it will not create any taxes, as it will just reduce the basis in the land.

To enter your Investments sold For Permanent Easement

Click on Federal Taxes
Click on Wages and Income
Click on I'll choose what I work on
Scroll down to Investments
On Stocks, Bonds, Other, click the start or update button

Please see this answer I gave two years ago as the law still applies.

https://ttlc.intuit.com/replies/5793610