Question

Is the property description for the location of gas wells or property management issuing the 1099?

Forum|Forum|5 years ago
January 30, 2021
1 reply
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Referencing the Schedule E Worksheet

TurboTax Premier Online

If you have location information for the gas wells, that is what you should enter. The location of the income-producing property determines if you have any state tax responsibility.

If you do not have location information for the gas well (or wells), then you can enter the property management company's address; absent any other information, you can reasonably assume they are located within the same taxing authority as the wells they are managing.