Vanessa A
Expert Alumni

Get your taxes done using TurboTax

If you are receiving royalties from the patent and received a 1099-Misc with the income in box 2, then you would report it on Schedule E as royalty income.  TurboTax will automatically generate the Schedule E when you enter the income as royalty income. 

 

"You generally report royalties in Part I of Schedule E (Form 1040 or Form 1040-SR), Supplemental Income and Loss.  However, if you hold an operating oil, gas, or mineral interest or are in business as a self-employed writer, inventor, artist, etc., report your income and expenses on Schedule C." Taxable income

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