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Investors & landlords
No, you don't have to if you are not in the business of writing. And you can enter the amount as other income... just as TurboTax indicates " if this royalty is not from an activity you engage professionally..." You can enter this as Other Income, Form 1040 line 21.
- Federal Taxes
- Wages and Income
- Scroll down to Less Common Income
- Select Miscellaneous Income
- Select Other reportable income, select ‘yes’ and you will be prompted to enter Description and amount.
June 3, 2019
1:43 PM