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D
debididittt
February 9, 2022
Question

I received gift of Mineral Rights Royalties in 2011, receiving monthly checks. How do I enter this asset type and it's only personal use?

  • February 9, 2022
  • 1 reply
  • 0 views
How do I answer the asset type and personal use information for oil royalties?

1 reply

JohnB5677
JohnB5677
February 9, 2022

You do not have to enter anything in these sections.  If you go back to the Here's (?) royalty info screen, you should see only two items.

  • The 1099-MISC that you entered and
  • Depletion

You do not have to enter anything in improvements, furnishings, and other assets unless you added something to the land.

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    D
    debididitttAuthor
    February 9, 2022

    Yes, after going round and round again, I was able to locate the correct way of entering our information.  It is great that your message confirms what I "thought" was working.  Thank you!

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