https://ttlc.intuit.com/community/business-taxes/discussion/sale-of-musical-composition/01/1978855#M65906 <P>Where do we report the sale of a musical composition that my husband wrote? My understanding is that sales of musical catalogs were treated as a sale of capital assets but part of Turbo Tax's Q&amp;A seems to explicitly exclude musical compositions that one writes as a capital asset?</P> Tue, 23 Feb 2021 23:55:37 GMT nolacarol 2021-02-23T23:55:37Z https://ttlc.intuit.com/community/business-taxes/discussion/sale-of-musical-composition/01/1978855#M65906 <P>Where do we report the sale of a musical composition that my husband wrote? My understanding is that sales of musical catalogs were treated as a sale of capital assets but part of Turbo Tax's Q&amp;A seems to explicitly exclude musical compositions that one writes as a capital asset?</P> Tue, 23 Feb 2021 23:55:37 GMT https://ttlc.intuit.com/community/business-taxes/discussion/sale-of-musical-composition/01/1978855#M65906 nolacarol 2021-02-23T23:55:37Z https://ttlc.intuit.com/community/business-taxes/discussion/re-sale-of-musical-composition/01/1979201#M65919 <P>You can report the sale of a musical composition as <EM>Business Income on Schedule C, </EM>and claim <EM>Business Expenses</EM> against the income.</P> <P>&nbsp;</P> <P>Click this link for a detailed&nbsp;<A href="https://turbotax.intuit.com/tax-tips/self-employment-taxes/the-musicians-guide-to-taxes-top-tax-deductions/L3dFXFokF" target="_blank">Musician's Guide to Taxes</A>.&nbsp;</P> <P>&nbsp;</P> <P>&nbsp;</P> <P>&nbsp;</P> <P>&nbsp;</P> <P>&nbsp;</P> <P>&nbsp;</P> <P>&nbsp;</P> <P>&nbsp;</P> Wed, 24 Feb 2021 00:52:59 GMT https://ttlc.intuit.com/community/business-taxes/discussion/re-sale-of-musical-composition/01/1979201#M65919 MarilynG1 2021-02-24T00:52:59Z