thank you
JPatrick - thank you for your reply. The deal is sealed and I think we did alright and did have a lawyer. I will be making an estimated payment for the taxes owed at ordinary rate when payment is received(will have the cash but still a painful check to write). It looks like schedule E...
Any good tax advice on mineral rights lease?
I saw your thread while searching for an answer to the same question. Do you have any advice or any information you can share? I am wondering what IRS form the one time mineral lease payment should be reported on and if this can be treated as...