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dvdgarofalo
Level 2

Where do I record income on lease of a trademark or service mark?

I have a service mark in my personal name. I want to lease it to my LLC. What tax form would I record the income on? Is it considered a royalty? Thank you in advance.
2 Replies
ColeenD3
Employee Tax Expert

Where do I record income on lease of a trademark or service mark?

It may be more complicated than that. First of all, there has to be a value. Please read this article dealing with the transfer of a trademark. 

 

Trademark transfer

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SweetieJean
Level 15

Where do I record income on lease of a trademark or service mark?

and since you have not done it yet, nothing goes on your 2020 tax filing.

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