Skip to main content
February 27, 2020
Question

Gas Lease Income on 1099-MISC

  • February 27, 2020
  • 1 reply
  • 0 views

I entered the required fields from the 1099-MISC into T'tax; now it's taking me to screens on expenses and operating costs for the "business".  Is there a way to bypass the other screens since the gas company just pulls natural gas from under the house and occasionally sends me a check?

    1 reply

    February 27, 2020

    You are permitted to take certain expenses against royalty income. If you don't have any, just Continue through the screens until you are done.

     

    But I am curious since you mentioned "business" - in what box on the 1099-MISC did they include your royalties?

    **Say "Thanks" by clicking the thumb icon in a post**Mark the post that answers your question by clicking on "Mark as Best Answer"