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Get your taxes done using TurboTax
Your Royalties will be federally taxed as earned income. If your state has an state income tax, it will most likely be taxed as the earned income as well, you'll need to check to see what that rate is.
Both the federal and the state are going to want their tax payment prepaid. If you wait until April 15, 2020 to file and pay the taxes, you will be penalized and pay interest for every month it was not paid.
Here is a Tax rate calculator:
https://www.mortgagecalculator.org/calcs/marginal-tax-rate-calculator.php
‎July 3, 2019
4:51 PM