I’m new to this. I received a 1099-misc from the operator for royalties of the 6 gas leases. Since it’s the same operator # and field, and they gave me a total number for the 6 leases, do I put it on schedule E as one property, or do I have to somehow figure out information for each of the 6 separate leases?
You can enter combined. If there are different states involved, you may want to separate by state. Be sure to deduct any expenses directly related to the royalties which you paid, such as legal, property taxes, postage, etc
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Do legal fees related to getting the affidavit of heirship so the ownership of royalties were transferred into my my name count as directly related? Or is that considered personal legal fees?
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