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An Agency receives royalties on behalf of artists it represents. Should the 1099's to the artists list the full royalty received or the royalty minus commissions?
"Agency A receives $1000 royalty for work by represented Artist B. It takes a $400 commission, and pays Artist B $600. Agency A reports the royalties on Form 1099-Misc and sends it to Artist B. Should the royalties reported by $1000 or $600?"
‎February 25, 2025
12:43 PM