You'll need to sign in or create an account to connect with an expert.
If your royalties are for Mineral Rights, they should be reported on Schedule E, for Rentals and Royalties, and you won't be subject to SE tax. If your royalties were payment for intellectual property that you created, such as music royalties or book royalties, then they would be reported on Schedule C, and you'd pay SE tax on them.
Go back to your 1099-MISC for the royalties and make sure that you entered it properly. The income should have been reported in Box 2.
If your royalties are for Mineral Rights, they should be reported on Schedule E, for Rentals and Royalties, and you won't be subject to SE tax. If your royalties were payment for intellectual property that you created, such as music royalties or book royalties, then they would be reported on Schedule C, and you'd pay SE tax on them.
Go back to your 1099-MISC for the royalties and make sure that you entered it properly. The income should have been reported in Box 2.
Still have questions?
Make a postAsk questions and learn more about your taxes and finances.
crookedoak
New Member
mar64
Returning Member
bobshowinec
New Member
rjm76
Level 2
billcw98
Level 2
Did the information on this page answer your question?
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.