Miscellaneous Income

Royalty income

Answer:

Royalty income is taxed as ordinary income reportable on IRS Schedule E. Royalty income includes author's royalties, musical composition royalties, payments for use of patents or copyrights, and certain oil and gas entities.
CPAdirectory
Answer Provided by: CPAdirectory

Share This Answer

Looking For More?

View all Miscellaneous Income Questions

View More Questions