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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...