If I published one book, where it was a one time thing, not an ongoing business, and I received less than $600 in royalties but had $13,000 in expenses, what do I do?
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If I published one book, where it was a one time thing, not an ongoing business, and I received less than $600 in royalties but had $13,000 in expenses, what do I do?
If I published one book, where it was a one time thing, not an ongoing business, and I received less than $600 in royalties but had $13,000 in expenses, what do I do?
Royalties are reported on Schedule E. To enter this information into TurboTax
Login to your TurboTax online account
Click Take me to my return or pick up where I left off
In the search box (located in the upper right hand corner), type the word royalties
Click the Jump to royalties link that appears in the search results
This will take you to theIncome from Rentals or Royalty Property You Own screen. Continue with the onscreen instructions and enter both the income your received as well as any qualifying expenses required to generate the royalty income.
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