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Business & farm
You should received Form 1099Misc from the company paying you royalties. If you are a self-employed artist/writer you will have to file the 1099Misc on Schedule C and pay self employment taxes on the net profit that is $400 or more.
If you owe self-employed taxes or expect to owe income taxes when you file your return, you should pay quarterly taxes to avoid any interest and/or penalties.
The foreign income exclusion only applies to income tax. Self employed taxes are not excluded. You should still make quarterly payments for the self-employed taxes. Please see link below for additional information.
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‎August 28, 2024
12:03 PM