on my 2005 taxes I put my royalites income on schedule C and paid self-employment tax. How do I amend it?

Question

Do I use 1040x and if so where do I enter it?

Answer 1

Your royalties income would be reported on Schedule E, and is not subject to self-employment tax. You should first prepare a corrected Form 1040. Then you would compare the original 1040 and the corrected 1040. Both the original and corrected amounts are needed to fill out Form 1040X.

Answer 2

You amend a return with a form 1040X. The easiest way to do it is to create a new, correct return, then lay that and the originally filed one side by side and enter the required numbers onto the 1040X.