Hi @Max C here is what the information related to Royalty income.
Royalties from copyrights, patents, and oil, gas and mineral properties are taxable as ordinary income.
You generally report royalties in Part I of Schedule E (Form 1040 or Form 1040-SR), Supplemental Income and Loss. However, if you hold an operating oil, gas, or mineral interest or are in business as a self-employed writer, inventor, artist, etc., report your income and expenses on Schedule C. This may have been reported incorrectly on the return this year. You may consider having a review of your return to make sure that it has been being done correctly.
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