I have mineral rights on some property in ND. the royalties are listed in box 2 and state taxes in block 16. However, on the top of the 1099 MISC they also include Owner deductions (covering transportation, processing and compression expenses), production taxes and severance taxes. How do I claim them for deductions? what screen in turbo tax should i use?
Follow the instructions included in the TurboTax FAQ I'm sharing below to enter your 1099-MISC. Once you've selected the proper category for Royalty Income, you should have follow-up questions about production expenses.
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