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My mother died two yes ago and I just opened an Estate
My mother died two yes ago and I just opened an Estate account for her because I just sold her mineral rights in Oklahoma for a substantial amount. I'm trying to figure out if I will have to pay taxes… read more
emc011075
emc011075
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Before my mother died she set up a Trust for her estate,
Before my mother died she set up a Trust for her estate, which included mineral rights royalties. After she died and the rest of the estate was distributed, my sister's and I agreed to keep the Trust … read more
Dr. Fiona Chen
Dr. Fiona Chen
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SOLD MINERAL INTEREST ON LAND THAT I IHERIETED 3 YEARS AGO.
SOLD MINERAL INTEREST ON LAND THAT I IHERIETED 3 YEARS AGO. HOW DO I REPORT GAIN … read more
Lev
Lev
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1 Farm land inherited 15-20 years ago. 2: Mineral rights
1 Farm land inherited 15-20 years ago. 2: Mineral rights only, sold in 2018. Surface land retained by current owner. How can you find basis for the sale? Can Mineral Rights be a fixed % of the value o… read more
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My wife is going through ancillary probate of her deceased
My wife is going through ancillary probate of her deceased husband who died testate in Texas 26 years ago. Unbeknownst to her, her deceased husband owned mineral interest in property in New Mexico. Hi… read more
Angie
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I am on permanent disability. When my Mom passed, I
I am on permanent disability. When my Mom passed, I inherited some mineral rights. They were not paying … read more
Lev
Lev
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Bachelor's Degree Equivalent
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I sold mineral rights in Oklahoma. Just wondering how to
I sold mineral rights in Oklahoma. Just wondering how to figure taxes on it … read more
Charles Markham
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Taxpayer has received royalty income /mineral rights
Taxpayer has received royalty income for oil/mineral rights for over 30 years. Sold his interest in 2014. Originally inherited 15 acres in 1965, sold the property in 1982, but retained the mineral rig… read more
Robin D.
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if I retained my mineral rights when I sold my home in 2010,
if I retained my mineral rights when I sold my home in 2010, and then sold the mineral rights to another party, how do I come up with a "Cost of Property for the Sale of Business or rental Property?… read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
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Just trying to figure out how to report the SALE (not lease,
Just trying to figure out how to report the SALE (not lease, SALE) of mineral rights on a piece of real property I did not own.… read more
Lev
Lev
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My mother-in-law inherited some Oklahoma mineral rights in
My mother-in-law inherited some Oklahoma mineral rights in 1987 upon the death of her mother. She sold all of these rights in 2012. Is this considered a capital gain? If so, how do I find the basis of… read more
Megan C
Megan C
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I sold timber from family property I inherited three years
I sold timber from family property I inherited three years ago. How do I report this income on my federal returns? What important information do I need to know in order to correctly calculate taxes on… read more
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Lev
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How will incOme from sale of inherited Mineral rights be taxed?
How will incOme from sale of inherited Mineral rights be taxed? Should I have a Form 1099 for this transaction?… read more
Robin D.
Robin D.
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Vocational, Technical or Trade School
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I sold a very small piece of property in 2005, just under 2
I sold a very small piece of property in 2005, just under 2 acres, and requested to retain mineral rights. I continued to recieve royalties from these minerals for about another 1 1/2 yrs, then out of… read more
Lev
Lev
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Hi, my husband inhereted 2,000 acres of land when he was 14
Hi, my husband inhereted 2,000 acres of land when he was 14 yrs old, it went into a partnership with his siblings. It has mineral rights which we do get each month from oil. The partnership is selling… read more
Merlo
Merlo
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I am a self-employed and file a 1040 for taxes. Presently I
I am a self-employed and file a 1040 for taxes. Presently I am doing 07 and 08 taxes In July of 2007 an unknown mineral rights deed was found by a company in Oklahoma - they wanted to lease the portio… read more
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My husband inherited some mineral rights in Oklahoma from his
My husband inherited some mineral rights in Oklahoma from his sister. We sold those rights and received a 1099-misc for the money we received. I do not know how to put this income on my taxx return wi… read more
Robin D.
Robin D.
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my ex husband and i have joint mineral rights for the property
my ex husband and i have joint mineral rights for the property that he lives on. where does he or we claim the interest and taxes paid on the house he lives in which is on this property… read more
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