Individual Income Tax Question

I received a 1099-MISC for income from wells in which I am an unleased mineral owner. The operator listed the income in Box 7 as Nonemployee Compensation. The tax program I'm using is treating it as business income and therefore I'm having to pay self-employment tax on it. Is this correct? I don't feel this is earned income that I should have to pay Social Security on; I work for a school district and pay into the teacher's retirement fund, not Social Security. Any thoughts would be appreciated.

Views: 1673

▶ Reply to This

Replies to This Discussion

Permalink Reply by Skip Peel - Mineral Consultant on March 5, 2019 at 4:48

Kathy, I'll add my two cents regarding casingpoints less than civil tone.  Please don't let one somewhat discourteous replay lead you to abandon us.  We need you.  :-)

Permalink Reply by Bobi Carr ("parker") on March 24, 2019 at 0:59

Kathy,  I haven't read any of casingpoints remarks before but when I read it, I thought it was an attempt at humor.  It is not always easy to know the writer's intent. 

Permalink Reply by casingpoint on March 27, 2019 at 8:21

Thanks for the backup, Bobi Carr. One stays around the O&G business, your skin soon turns to rawhide.

RSS

Support GoHaynesvilleShale.com

Top Content 

1 SONRIS UPDATE WELLS BY S-T-R

SONRIS UPDATE WELLS BY S-T-R
2 The Future of GoHaynesvilleShale.com: A question for members

The Future of GoHaynesvilleShale.com: A question for members
3 Lease bonus

Lease bonus
4 Mineral Rights offers in Bienville and Desoto Parish?

Mineral Rights offers in Bienville and Desoto Parish?
5 Can I contact a landman directly?

Can I contact a landman directly?
6 Desoto Parish sections 20 21 28 29 32 all in 14n 15 w

Desoto Parish sections 20 21 28 29 32 all in 14n 15 w
7 A Haynesville Shale "leasing frenzy" in central Texas

A Haynesville Shale "leasing frenzy" in central Texas

Groups

Blog Posts

Tuscaloosa Trend Sits On Top Of Poorest Neighbourhood For Decades - Yet No Royalties Ever Paid To The Community -- Why??

In researching the decades-old Tuscaloosa Trend and the immense wealth it has generated for many, I find it deeply troubling that this resource-rich formation runs directly beneath one of the poorest communities in North Baton Rouge—near…

Continue

Posted by Char on May 29, 2025 at 14:42 — 4 Comments

Not a member? Get our email.



© 2025   Created by Keith Mauck (Site Publisher).   Powered by

Badges  |  Report an Issue  |  Terms of Service