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Where do I deduct royalty expenses on my 1120-S corp tax return?
My business received a Form 1099-MISC for royalty income. The form also shows deductions for taxes and Other to get to the net amount received. The Royalty Income section of Turbo Tax for Business only allows for entering the gross amount of royalty but not expenses. Where do I deduct royalty expenses on the 1120-S corp tax return?
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May 31, 2019
9:59 PM