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Get your taxes done using TurboTax
Royalties earned by a self-employed artist for works that she created herself are business income. The royalties are reported on Schedule C and are subject to self-employment tax.
You could ask the lawyer who handled the lawsuit for you to clarify the meaning of "statutory damages." But keep in mind that a copyright lawyer is probably not an expert in tax law.
‎September 3, 2024
10:36 AM