I have oil and gas mineral rights that generate royalty payments. I do not own the property on which the royalties are generated.
When working through the Schedule E questions, a screen comes up titled "What additional expenses and assets did you have for _____". The first portion addresses assets and the second portion addresses expenses.
Under the assets, there is a line for Royalty property. Do I check that box? I am receiving royalty, but I do not own the land on which the royalty is being generated.