Question

Oklahoma Non-Resident Royalty Income

I am a Texas resident. I received $1040.00 in rents from a family farm in Oklahoma. I received the following income:

Royalties of $514.87 minus Production Taxes of $39.25=Net Revenue Payments of $475.62. Plus,

Royalties of $909.73 minus State tax withheld of $45.09. How do I report the royalties, production taxes and state tax withheld?

When you enter your 1099-Misc for Royalty income, you will be able to enter Expenses and Taxes also.

Type 'royalties' in the Search area, then 'Jump to royalties'.

Click this link for more info on How to Enter Royalty Income.

1 reply