Where do i report the sale of oil rights? sold for $175.00 to company handling rights from an inheritance, owning a small portion of property

If this was an inheritance and sold as a result of it being inherited, there would be no tax liability from that transaction, so it needn't be reported. 

The Taxpayer's "Basis" in property which is inherited, is the Fair Market Value at the time of death. If the property is sold right after, there is no Capital Gain.

If you inherited, held on to it and then sold, you might have capital gain and that would be entered under Income "Investment Income"   "Stocks, Mutual Funds, Bonds, Other" UNLESS you previously reported royalties, in which case the sale would be treated as a sale of business property. 

Reporting the sale as a sale of business property would require you to use TurboTax Home & Business Desktop or Self-Employed Online.  

How to report business sale in TurboTax

IRS LINK