terry Posted February 2, 2012 Report Posted February 2, 2012 A farmer brought in a 1099-misc. (non-employee comp. ) for a storage & mineral deed. Does anyone know how this should be treated on the tax return? Thanks in advance! Quote
Ranger Posted February 4, 2012 Report Posted February 4, 2012 What was the payment for? Did he actually deed over the mineral rights? Quote
terry Posted February 5, 2012 Author Report Posted February 5, 2012 Yes. Another persons opinion was that it should have been reported on a 1099-B not a 1099-misc. Quote
DANRVAN Posted February 8, 2012 Report Posted February 8, 2012 Sounds like a sale of mineral rights that needs to be reported on Schedule D. Quote
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