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On your business return you can use the miscellaneous expenses category to deduct the royalties you paid.
TurboTax online version:
1. Sign into your account and select your current return.
2. Select My Account on the top right and then select Tools
3. Select Topic Search (see attached image)
4. Search for business and select Go
5. Start business entry by following the screens.
TurboTax desktop version:
1. Use the Search box in the upper right
2. Search for business, schedule c
3. Jump to business. schedule c (see image attached)
4. Continue to Start or Edit your business
5. Follow the screens to enter your information. Choose Other common business expenses (see images attached)
On your business return you can use the miscellaneous expenses category to deduct the royalties you paid.
TurboTax online version:
1. Sign into your account and select your current return.
2. Select My Account on the top right and then select Tools
3. Select Topic Search (see attached image)
4. Search for business and select Go
5. Start business entry by following the screens.
TurboTax desktop version:
1. Use the Search box in the upper right
2. Search for business, schedule c
3. Jump to business. schedule c (see image attached)
4. Continue to Start or Edit your business
5. Follow the screens to enter your information. Choose Other common business expenses (see images attached)
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