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Investors & landlords
My daughter has the same situation: a 1099-Misc from TikTok with a small $ in box 2 (Royality). TurboxTax asks her to choose whether to enter the income on Schedule C or Schedule E. If she chooses Schedule E, TurboTax thinks this is rental income and asks for property address. So it looks like she needs to choose schedule C, even though she does not have a business name or EIN. Is that correct?
March 30, 2022
4:35 AM