Even though an individual is not currently involved in his or her creative pursuit of income, any royalties received are business income if the individual was engaged in the business at the time the material generating the royalties was produced. Therefore, royalty income should be classified as business income for individuals who were in the business at the time the intellectual property was created. Source: KittyM
To enter your 1099-MISC from YouTube as business income:
- Open or continue your return in TurboTax
- Search for self employed income (use this exact phrase, don't add a hyphen) and select the Jump to link at the top of the search results
- Answer Yes on the Did you have any self-employment income or expenses? screen
- If you land on the Your 2022 self-employed work summary page, select Review next to the work you're adding income for
- Answer the questions on the following screens until you arrive at Let's enter the income for your work
- Select the form that applies to your situation and select Continue
- You can enter the info from your 1099 form on the following screens
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