This year we sold some inherited mineral royalty rights, that we have had about 10 years. No idea what the value was then. Will we need to pay some sort of capital gain on the purchase amount of $16,000? Not sure if the company that bought these will send us a 1099 or not. We have included the small amount of revenue…
My husband inherited mineral rights in Texas when his mother passed away 10 years ago. We are interested in selling them and have a buyer. What do we need to report and how?
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