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jrpower
New Member

I own a working interest in an oil well. I do not receive a 1099-Misc. Where do I input my income AND expenses?

 
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2 Replies
TomK
Expert Alumni

I own a working interest in an oil well. I do not receive a 1099-Misc. Where do I input my income AND expenses?

To enter/edit/add royalty:

  1. Open your return (or continue if open).
  2. Click on “Take me to my return” if applicable.
  3. Type “royalty” in Search box (upper right-hand corner of the screen)
  4. Click on “Jump to royalty” link.
  5. Answer screen interview prompts. 
jrpower
New Member

I own a working interest in an oil well. I do not receive a 1099-Misc. Where do I input my income AND expenses?

Thanks.  Is the money received from a working interest considered royalties since there are also expenses associated with the payment? Thanks again!

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