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Are Author's Royalties a Qualified Business Income
I received a 1099-MISC for a nominal amount (under $100). This was for royalties that my deceased father wrote many years ago (more than 10). The royalties now come to me as his sole heir. I am using Turbo Tax Deluxe and it has put this income in Schedule E, which seems correct. My question is how do I answer the question in the Step by Step interview that asks: "Is this Qualified Business Income?" Googling this provides no consistent answer, and none of the discussions relate to my situation where I am not the author but the beneficiary of their royalties. It is not a big amount so the treatment probably won't make much difference. That said, I still like to do things correctly and understand why that is correct.
March 16, 2025
1:40 PM