I sell books on Amazon. I received a 1099 Misc showing it as a royalty, but it is under $400. Does this mean I still have to file a self employment schedule C?

I input the $ on the 1099 misc TT area, but now it wants me to complete a schedule c. I have no expenses or additional costs. I just collect a small royalty. Is the Sch C necessary?

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1 Best answer

Level 15

May 31, 2019 11:00:17 PM

Yes, you have to report it on Schedule C. The fact that it's under $400 means that you will not have to pay any self-employment tax, but you still have to file the Schedule C.

Level 15

May 31, 2019 11:00:17 PM

Yes, you have to report it on Schedule C. The fact that it's under $400 means that you will not have to pay any self-employment tax, but you still have to file the Schedule C.

Level 1

May 31, 2019 11:00:18 PM

Royalties are reported on Schedule E as "ROYALTIES" and are not subject to SE taxes.

Level 1

May 31, 2019 11:00:21 PM

It doesn't take much at all to require a more expensive TT Product. The version you have is not going to allow you to proceed until you upgrade.

One more thing, if it pertains to you, if you want your fees taken directly from your Federal refund, they charge an additional $34.99 also. Good luck

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I sell books on Amazon. I received a 1099 Misc showing it as a royalty, but it is under $400. Does this mean I still have to file a self employment schedule C?