Question

If you got a 1099-MISC from TIKTOK, INC. and have $ earned in Royalties, does that mean you are self employed?

Forum|Forum|4 years ago
May 1, 2021
2 replies
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TurboTax Free Edition Online

No ... that means you have royalties to report on a Sch E ... follow the screen instructions in that part of the income tab.

Carl11_2

Assuming you're talking about the same thing and the 1099-MISC has the income reported in box 2 of that form, you have royalty income that gets reported on SCH E. You are not self-employed.

W

werty

My daughter has the same situation: a 1099-Misc from TikTok with a small $ in box 2 (Royality). TurboxTax asks her to choose whether to enter the income on Schedule C or Schedule E. If she chooses Schedule E, TurboTax thinks this is rental income and asks for property address. So it looks like she needs to choose schedule C, even though she does not have a business name or EIN. Is that correct?

Critter-3

NOOO ... 1099-misc box 2 can simply go to the Sch 1 line 8 and avoid the Sch E in this case ... DELETE the 1099-misc entry you made and follow this instead :

Down the left side of the screen, click Federal.
In the center of the screen, click Income & expenses.
On the screen Your income and expenses, scroll all the way down to the last section, Less Common Income.
Click the Start or Update button for the last topic, Miscellaneous Income, 1099-A, 1099-C.
On the next screen, Let's Work on Any Miscellaneous Income, scroll down and click the Start or Update button for the last topic, Other reportable income.
The next screen asks, Did you receive any other taxable income. Click Yes.
On the next screen, Other Taxable Income, enter a description and the amount. Click Continue.
On the next screen click Done.