Damage payments for pipeline easement and surface use easement
Received form 1099-Misc for damage payment received from a pipleine company for providing an easement; not a sale of the affected land per se : easememt reverts back to surface owner 2 years after pipeline ceases to be used; reported in Box 3 ("other income"). Similarly, received a 1099-Misc from the oil company for customary damages for providing an easment/surface use agreement for a wellsite; not a property sale per se, as the easement reverts back to the surface owner after the wellsite ceases to be used; reported in Box 1 as "rentals", though I don't see this as different from the pipeline easement. Both payments exceed the original cost bais for the land, so I think these reprsent capital gains. Where do I enter the data in TurboTax ? Thanks.