You have nailed the answer 100%. The property IS a royalty property and I'd never dived deeply enough in the instructions to locate the reference that you quote...
On my taxes, I have two Schedule E rental properties and each has its own worksheet. On each worksheet in the General Information section, I have typed in the p...
@DianeW777That example helped so much. I think I can do it now.One last question. I'm seeing conflicting information on what/if any closing costs are tax-deduct...
@DianeW777-Your explanations are remarkable and very thorough. It's just me that's a little slow in understanding. I'm going to try to re-state what you said us...