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Oil and gas lease income

Forum|Forum|7 years ago
June 4, 2019
2 replies
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I can't see where to properly enter this income. It is not royalty income and it is not rental income. Where do I report this??

TurboTax Premier Online

Best answer by JohnR

Hi, that.s 1099 MISC oil and gas lease income

In the top menu bar of your Turbo Tax, please select Federal Taxes and then Wages and Income.
Start or Edit at Income from Form 1099-MISC.
You will now be at the correct interview process for this entry.

J

JohnRAnswer

Hi, that.s 1099 MISC oil and gas lease income

In the top menu bar of your Turbo Tax, please select Federal Taxes and then Wages and Income.
Start or Edit at Income from Form 1099-MISC.
You will now be at the correct interview process for this entry.

Carl11_2

Employee

If this income is reported to you on a 1099-MISC in box 1 or 2, then it's reported on SCH E. It's either rental income (box 1) or royalty income (box 2). Otherwise, what tax reporting document do you have for this income and what box is it reported in on that form?