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March 23, 2020
Question

Sale of non-business patent

  • March 23, 2020
  • 1 reply
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We received a payment from a private party (non-business entity) for the sale of a patent in 2019 that was filed under my personal name, not a business. Does this need to be reported as supplemental income? And if so, where would I input the information in TurboTax?

1 reply

March 23, 2020

Yes, this would be reported as Other Income.

 

Go to: 

 

Federal

Wages & Income

Less Common Income

Miscellaneous Income

Other Reportable Income

 

 

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