If this is not your business, then it is investment income property.
To enter royalty
income so it is not self-employed income, follow these instructions:
1.
With your return open in TurboTax, type royalty income in the
search bar and click search.
2.
Click on Jump to royalty income.
3. On
the Income from Rentals or Royalty Property You Own, answer Yes
4.
On the next screen, check None of the above.
5. On the Is
This a Rental Property or Royalty? screen, check Royalty
property or payment. Enter the information.
6. On the next screen,
answer Yes.
7. On the What
Type of Royalty Income? screen, click on Other Intangible
(Patents, copyrights) or other applicable category.
8. Continue answering
the onscreen interview until complete.
See the screenshots
below.
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Investment income from property you own is for natural resources extracted from
your property by a third party who leases your property. It also includes
royalties from intellectual property if you didn't create the intellectual
property yourself. This will go on Schedule E.
