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suekidder
New Member

I am retired from working my youtube channel, but my videos still generate revenues--royalties on my 1099MISC. How do I report to IRA without saying i'm self employed?

When I type in the royalties, I'm asked to answer the questions about my self-employment...
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1 Reply
MindyB
Expert Alumni

I am retired from working my youtube channel, but my videos still generate revenues--royalties on my 1099MISC. How do I report to IRA without saying i'm self employed?

From the information you provided, the income from  your videos should be reported on Schedule E, so you would choose the first option when entering your 1099-MISC  "Royalty investment income from a natural resource, intellectual property or other investment portfolio." Depending on which option you choose, the income will be reported on a different schedule on your tax return.  The first option, "natural resource or intellectual property" will flow to Schedule E, while the second option, "being self-employed as a writer, inventor, artist" will flow to Schedule C.

 

Here are the instructions for reporting  How do I enter a 1099-MISC for royalty income?

 

 

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