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liz_cooper7
New Member

My husband inherited mineral rights when his parents passed away. The company sent a Substitute Form 1099-Misc to us. I tried entering the information but we don't own the property, just the mineral rights. Should I use form 1099-Inv.?

The mineral rights are for CO2 gas.
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Leonard
Intuit Alumni

My husband inherited mineral rights when his parents passed away. The company sent a Substitute Form 1099-Misc to us. I tried entering the information but we don't own the property, just the mineral rights. Should I use form 1099-Inv.?

No, you will not use a Form 1099-DIV to report income from mineral rights.  Mineral rights are considered to be royalty payments and are reported on Schedule E.

To input, your royalty information in TurboTax Self Employed enter royalty in the search box then click on Jump to royalty in the answer window.  Follow the program prompts to enter your royalty information.

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Leonard
Intuit Alumni

My husband inherited mineral rights when his parents passed away. The company sent a Substitute Form 1099-Misc to us. I tried entering the information but we don't own the property, just the mineral rights. Should I use form 1099-Inv.?

No, you will not use a Form 1099-DIV to report income from mineral rights.  Mineral rights are considered to be royalty payments and are reported on Schedule E.

To input, your royalty information in TurboTax Self Employed enter royalty in the search box then click on Jump to royalty in the answer window.  Follow the program prompts to enter your royalty information.

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