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snowed18
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?

 
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JohnW15
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.


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1 Reply
JohnW15
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.


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