Re: How to Report Royalty Income Without Generatin...
RobertG
Expert Alumni

Get your taxes done using TurboTax

If the income is from intellectual property rights you created as as inventor, writer, or artist, it is self-employment income.

 

You can report it on Schedule 1 line 8, but then the IRS won't recognize it as a 1099-Misc, and may ask you about it.

 

Report it under the income section

 

  1. Select 'Less Common Income'
  2. Then select  'Miscellaneous Income'
  3. Then select 'Other reportable income'
  4. The next screen will ask if you had 'Any Other Taxable Income?'  Select Yes.
  5. The next screens will ask for a description and the amount.

 

The amount will be reported on Form 1040 Schedule 1 Line 8

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