topic Form 1099-MISC for Non-Business Royalty in Get your taxes done using TurboTax

Form 1099-MISC for Non-Business Royalty

larwin11 — Mon, 03 Feb 2020 21:55:34 GMT

I received a 1099-MISC for royalty from a book I authored and had published. I do not have a business, yet Turbo Tax seemingly requires me have a business to proceed. How can I deal with this?

Re: Form 1099-MISC for Non-Business Royalty

DawnC — Mon, 03 Feb 2020 22:20:35 GMT

If you are not in the business you will report the income on Schedule E instead of Schedule C. See AnnetteB's answer and instructions to report the royalty income on Schedule E.

Re: Form 1099-MISC for Non-Business Royalty

Dockmaster — Fri, 07 Feb 2020 14:31:04 GMT

When entering information on Schedule C for reporting 1099 MISC royalty payments, specifically for book publishing that is not a business, Line C of the form is for a Business name. On Line C the form says "if no separate business name, leave blank".

Turbo Tax will not allow the form to be completed without an entry on Line C.

HOW IS THIS HANDLED???

Re: Form 1099-MISC for Non-Business Royalty

DianeC958 — Sat, 08 Feb 2020 16:53:13 GMT

Just enter your name. I understand that it is not a separate business name, but by entering your name this will no longer will be an issue.

@Dockmaster