Author royalties

1 reply
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Husband recently began receiving author royalties. I know we report these as income, but when do I need to worry about making quarterly tax payments? So far it's less than $300.

Ask the Experts - Extension - Sept 2023

AmitaR

Employee Tax & Finance Expert

Hello julie_b,

If you expect to have a balance due on your tax return more than $1,000 then you need to make quarterly estimated tax payments.

https://turbotax.intuit.com/tax-tips/small-business-taxes/estimated-taxes-how-to-determine-what-to-pay-and-when/L3OPIbJNw

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Author royalties

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