Solved: I received a royalty check in the mail for $50.93. I have not received a 1099 misc. Do I have to report this?
Sign Up

Why sign in to the Community?

  • Submit a question
  • Check your notifications
or and start working on your taxes
Announcements
TurboTax has you covered during Covid. Get the latest second stimulus info here.
cancel
Showing results for 
Search instead for 
Did you mean: 
New Member

I received a royalty check in the mail for $50.93. I have not received a 1099 misc. Do I have to report this?

 
1 Best answer

Accepted Solutions
Intuit Alumni

I received a royalty check in the mail for $50.93. I have not received a 1099 misc. Do I have to report this?

Yes, you need to report this income, even though you didn't receive a 1099-MISC. 

If this was investment income from property you own, including natural resources extracted from your property by a third party who leases your property, as well as royalties from intellectual property that you didn't create yourself, then this gets reported on Schedule E.

If it's royalty income from your business, including artist royalties or operating a natural resources business, which can include income from natural resources that you extract from your property as well as royalty payments from intellectual property you created as an inventor, writer, artist, and so forth... then this gets reported on Schedule C.


View solution in original post

1 Reply
Intuit Alumni

I received a royalty check in the mail for $50.93. I have not received a 1099 misc. Do I have to report this?

Yes, you need to report this income, even though you didn't receive a 1099-MISC. 

If this was investment income from property you own, including natural resources extracted from your property by a third party who leases your property, as well as royalties from intellectual property that you didn't create yourself, then this gets reported on Schedule E.

If it's royalty income from your business, including artist royalties or operating a natural resources business, which can include income from natural resources that you extract from your property as well as royalty payments from intellectual property you created as an inventor, writer, artist, and so forth... then this gets reported on Schedule C.


View solution in original post

Dynamic Ads
v
Privacy Settings