Level 9
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Get your taxes done using TurboTax

Yes. If the Income from 1099-MISC is reflected in Box 2 it will be reported on Schedule E with your Tax Return. Per the IRS: Royalties from copyrights, patents, and oil, gas, and mineral properties are taxable as ordinary income.

 

Please follow the directions below to enter your royalty income:

 

  • Type in royalty income in the search box (upper right side of the screen)
  • Click the jump to royalty income link.
  • On the next screen titled "Income from Rentals or Royalty Property You Own", answer yes.
  • Answer the interview questions to input your royalty income. 
  • On the page titled Is "This a Rental Property or Royalty" you will enter your own address for the property address.