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How to classify income from digital sheet music sales and performing rights royalties (BMI, ASCAP)?

Forum|Forum|3 years ago
February 1, 2023
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I am a composer / music teacher.

I sell digital copies of my music through my website.
I also sell physical copies through a distributor, who periodically sends me payment for my sales.

I do not receive any tax forms for this money. Do I report this on my Schedule C for my music business or somewhere else?

I also receive two 1099-MISC forms from ASCAP for performing rights royalties (one as the publisher, one as the writer). Same question—do I report this on my Schedule C or somewhere else?

TurboTax Self Employed Online

Best answer by ThomasM125

The digital and physical copies of your music would be reported on schedule C as business income. The royalties reported on form 1099-MISC would be royalty income properly reported on schedule E. When you enter those forms in TurboTax they will be reported on the proper forms based on your answer to questions in the program.

T

ThomasM125Answer

The digital and physical copies of your music would be reported on schedule C as business income. The royalties reported on form 1099-MISC would be royalty income properly reported on schedule E. When you enter those forms in TurboTax they will be reported on the proper forms based on your answer to questions in the program.

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