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1099 MISC. BOX 3, WHERE TO REPORT ON 1065- IT WAS FOR A GEOPHYSICAL SURVEY OF PROPERTY

gpguidry
Level 1
 
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BobKamman
Level 15

It sounds like a payment from a seismic permit request, which might have involved use of dynamite or a “thumper” truck on the taxpayer’s land. You could call it rent, or just “other income.”

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3 Comments 3
IRonMaN
Level 15

Line 1 or line 7 sounds like potential landing spots - depends on what the nature of their business is.


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gpguidry
Level 1

Real Estate -

they have royalties mainly, rent some land,  timber

This is a new thing. Just not sure if it would need to go on the 1065 pg 1 income or

the other income on the Sch. K.  line 11, other income. It's a one time thing.

 

 

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BobKamman
Level 15

It sounds like a payment from a seismic permit request, which might have involved use of dynamite or a “thumper” truck on the taxpayer’s land. You could call it rent, or just “other income.”

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