259725
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Attend our Ask the Experts event about Tax Law Changes - One Big Beautiful Bill on Aug 6! >> RSVP NOW!
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

TurboTax appears to be considering book royalties as investment properties with high loss potentials. How can I redirect it?

My book has been published at an original cost of about $1600. Every book now yields a profit. I can't really loose anything but turbotax is encouraging maximizing my loss protections to reduce risks? I think it is treating the "property" as mineral rights? It therer a bug here?

x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Reply
KarenJ
Intuit Alumni

TurboTax appears to be considering book royalties as investment properties with high loss potentials. How can I redirect it?

When you enter your 1099MISC into TurboTax,  enter that it is Royalty income from your business.

If your royalties are a result of an invention, work of art or written publication, you must report the income on IRS Schedule C.

Perhaps you chose the option that it was investment income.

Unlock tailored help options in your account.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question