Wire transfer for my book sale abroad

Forum|Forum|4 months ago
March 12, 2026
1 reply
84 views

I have invested some money in publishing my book in a foreign country.
I have received money via Wire transfer (royalty) for the sales of my book abroad, according to the contract with the publishing company.
How should I report such income and expenses?
P.S. Writing is not my everyday activity. I just published one book, and the sales income didn`t exceed the original investment.

DaveF1006

Level 15

It depends. Since this is a one-time book project, you should use Schedule E (Supplemental Income and Loss). This is for royalties from copyrights where you are not a self-employed writer. It avoids the 15.3% Self-Employment tax that you would otherwise pay on Schedule C.

To report.

Go to Wages & Income (or Federal Taxes > Income & Expenses).
Scroll down to Rentals and Royalties and click Start/Revisit.
Answer Yes to "Did you have any rental or royalty income?"
On the Is this a Rental Property or Royalty? screen, select Royalty.
Description: Enter "Foreign Book Royalties - [Country]".
Location: Select Foreign.
Enter the publishing house address or simply the city/country where the publisher is located.