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G
glw1983
June 5, 2019
Question

Am I required to file a 1099 misc for royalties received that are less than $500

  • June 5, 2019
  • 1 reply
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1 reply

P
Patrice11
Employee
June 5, 2019

Yes, you are required to file the 1099-MISC although the amount is less than 500.00. The IRS states, Taxpayers must report all income from any source and any country unless it is explicitly exempt under the U.S. tax code. There may be taxable income from certain transactions even if no money changes hands.

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