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Yes. Royalties are usually reported on Schedule E unless you are actively involved in producing the royalties. See examples below.
For the current year, because the dollar amount is low and you have no expenses you can choose to report the income as follows:
Yes. Royalties are usually reported on Schedule E unless you are actively involved in producing the royalties. See examples below.
For the current year, because the dollar amount is low and you have no expenses you can choose to report the income as follows:
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