I received a 1099-MISC for a royalty check I got. Do I need to fill out a schedule C or just the 1040?

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I don't have a private business or anything like that. This was a one-time payment for music being used in an MTV commercial.

Thanks.

2007-04-03 12:21:43 · 3 answers · asked by Sean R 1 in Business & Finance ➔ Taxes ➔ United States

If the 1099 specifies royalties, it goes on a schedule E, and you'll just pay income tax on it, not self-employment tax.

2007-04-03 12:51:13 · answer #1 · answered by Judy 7 · 2⤊ 0⤋

On Schedule E if a royalty interest. On Schedule C if a working interest in an oil well.

2007-04-03 21:18:29 · answer #2 · answered by spicertax 5 · 1⤊ 0⤋

depends on what box is checked, if it says "nonemployee compensation" then yes, otherwise no

2007-04-03 21:16:32 · answer #3 · answered by Anonymous · 0⤊ 0⤋