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TurboTax appears to be considering book royalties as investment properties with high loss potentials. How can I redirect it?
My book has been published at an original cost of about $1600. Every book now yields a profit. I can't really loose anything but turbotax is encouraging maximizing my loss protections to reduce risks? I think it is treating the "property" as mineral rights? It therer a bug here?
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June 1, 2019
2:55 PM
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Investors & landlords
When you enter your 1099MISC into TurboTax, enter that it is Royalty income from your business.
If your royalties are a result of an invention, work of art or written publication, you must report the income on IRS Schedule C.
Perhaps you chose the option that it was investment income.
June 1, 2019
2:55 PM