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March 19, 2023
Question

I get taxed for a book I've written and sent form 1099 misc. How to handle it?

  • March 19, 2023
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March 19, 2023

 

Royalty income from your business, including artist royalties, go to a Schedule C, although other types of royalties, for property, do go to a Schedule E. Here are directions to enter your royalty Form 1099-MISC  in the Schedule C business section of your return.

 

 

  1. Click on Wages and Income on the left menu bar
  2. Scroll down to Self-Employment and click on Show More
  3. Click Start or Revisit for Self-employment income and expenses 
  4. Enter general information for your business
  5. Under the Income section, click on the Add income for this work button
  6. Select Form 1099-MISC
  7. Enter the Royalties which are usually in Box 2