How legitimate is it to put it onto Schdule C, rather than Schedule E? What determines this for an author?
Steve
- posted
15 years ago
Obama Royalty Income
Loading thread data ...
- Vote on answer
- posted
15 years ago
The author lists it on schedule C.
Someone who buys the rights or inherits the royalty rights shows it on schedule E.
- Vote on answer
- posted
15 years ago
Art is correct. There is no election to make. An author's royalty income is self-employment income reported on Schedule C (and Schedule SE if the total is large enough).