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March 30, 2023
Question

HOW DO i deduct my deductions from Royalty Income

  • March 30, 2023
  • 1 reply
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I have something called "DEDUCTIONS" ON MY 1099misc.  How do I deduct that?

1 reply

March 30, 2023

Your royalties will go onto a Schedule E- after you enter your 1099-MISC, you will see this screen, enter Royalty in the blank box.  Next, you will have to go the the Schedule E in the Income Summary, Edit the Royalty entry.  You will have to provide all the details on the Royalty.  You will be able to enter Expenses in this section.