@ dk1111 wrote:
Thanks for your reply. This is passive income for royalties on intellectual property. It is not business income.
A 1099-NEC is generally not for passive income. How to report intellectual property royalties depends on whether you created the intellectual property or whether it was created by someone else. As I mentioned previously, I'm not a tax expert, so I can't advise you, but will see if I can get a tax expert to join the thread, and guide you further since your income was reported on a 1099-NEC.
@ DavidD66 or @ DanielV01 I see you are currently in the forum. Are you able to please help this user who received intellectual property royalty on a 1099-NEC? Thanks!
