I receive royalty checks from my deceased father in law and Mother in law. My wife is deceased so I am a beneficiary of a beneficiary. Is this Inheritance or income?

[hughb1949]

I receive royalty checks from my deceased father in law and Mother in law.  My wife is deceased so I am a beneficiary of a beneficiary. One is placed in the box 3, Other Income, and the other in box 2, royalty.  The total amount is less than $1,000.  Do I have to claim that as income or is it an inheritance?  Where do I enter this information?  It is in a 1099 -Misc.

[KatherineC]

While this is an inherited investment, the income from it is taxable to you. 

To enter the Form 1099-MISC:

• Log in to your return
• Click on Federal Taxes
• Click on Income & Expenses
• Scroll to Other Common Income
• Click Show More if needed
• Click the button beside Form 1099-MISC
• You will be asked if you received Form 1099-MISC
• On the next screen, you will be asked to enter the information from your Form 1099-MISC.

Work your way through the questions. 

Look at further information about reporting royalty income below :

https://ttlc.intuit.com/replies/4792182

[Daisy83]

Hello,

Is it also the same when the royalty income is from another country?

[DianeW777]

Yes, simply convert the foreign currency to US dollars to report your income from an inheritance.

@Daisy83