Skip to main content
March 21, 2025
Question

long term capital gains without 1099

  • March 21, 2025
  • 1 reply
  • 0 views

I inherited mineral rights for oil/gas wells about 25 years ago.  At that time, they were next to worthless.  In the past few years, however, with the advent of fracking, they became quite productive.  I sold the mineral rights last year for a considerable sum and want to declare the sale on my 2024 return as a long term capital gain.  All I received with the sale was the check - no 1099 of any sort.  How do I report this in TurboTax?

    1 reply

    fanfare
    Employee
    March 21, 2025

    enter a 1099-B even if you don't have one.

    After confirming to TurboTax, it will ask for LT or ST

    @elawgetitdonesystemscom