I own a fractional share of the mineral rights on some property in East Texas. The oil company sent a 1099 Misc showing the gross royalities, deductions, taxes, and net amount paid to me. In addition to this I paid a tax bill on the mineral rights to the county that the oil well is in. Are the taxes I paid to the county a necessary expense that can be included on line 16 (added to the tax the oil company paid) of Schedule E?
Thanks,