Kat
Alumni
Alumni

Business & farm

I'm sorry, but yes...you do have to report the income on your tax return.  A copy of the 1099-MISC is sent to the IRS, so they'll be looking for it on your return.

 

To enter this 1099-MISC, use the instructions I'm linking below.

How do I enter a 1099-MISC for royalty income? 

*** I am NOT a tax expert. I am a seasoned TurboTax user, and volunteer to provide assistance to TT users. Nothing I post is to be considered TAX ADVICE; I bear no legal liability for responses.***