You are here:

Tax Law (Questions About Taxes)/2013 taxes.oil gas royalties


Hi John,
Its been a while.Hope God is blessing you.I get a small gas and oil ck from my Dads family. I have always fled a schedule E.Last year we started getting royalty cks on a different property. I file turbotax.we only get social security and now the oil cks.We have a lot of medical and our tithe,but,didn't need it jst reg deductions  showed us having 0 taxable income.BUT turbotax shows us owing 1900.00.We don't make enough to count social security.
Our royaltys were reported on 1099misc.Could this be a mistake in how we filed.How can we owe sooo much when we have 0 taxable income.Please help
God Bless


Thanks for your question.

If you have zero taxable income, the only thing I can think of is that it calculated (incorrectly) self-employment tax on the royalties. If you reported those on Schedule E, it should not have done so.

Hope this helps.

John Stancil, CPA

Tax Law (Questions About Taxes)

All Answers

Answers by Expert:

Ask Experts


John Stancil, CPA


I can answer questions on personal income taxes, partnerships, and some corporate income taxes. I can deal with some state tax questions. Limited gift and estate tax questions. I am also familiar with ministerial and church tax reporting issues. I am Professor Emeritus at Florida Southern College. Sales taxes and property taxes are state and local issues so I am not likely be be able to give you an in depth answer on those types of taxes. I have maintained a CPA practice, specializing in tax, for over 35 years. I am a member of the National Association of Tax Professionals, The Florida Insititute of CPA's, The NCPE Fellowship. In addition I am a Certified Mentor for SCORE. Visit my website at I also offer seminars and consultations to churches and clergy on their tax issues at Also visit my blog, I am listed on Tax Connections at Prepare and file your own taxes at


I hold a doctorate in Accounting, and am a CPA. My certifications of CIA, CFM, and CMA are inactive. I passed all certification examinations on the first attempt, and received honorable mention for my scores on the CIA exam. I have operated a CPA firm for over 37 years and have taught accounting and tax at the college level for over 35 years.

FICPA, NATP, NCPE Fellowship, Lakeland Business Leaders

The CPA Journal, Florida CPA Today, Green Consumer, Green Business, Global Sustainability as a Business Imperative, Palmetto Review, NATP TaxPro Quarterly, Mustang Journal of Finance and Accounting.

DBA University of Memphis MBA University of Georgia BS in Accounting Mars Hill University

©2017 All rights reserved.