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#1
04-19-2009, 01:59 PM
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 Re: Obama Royalty Income On Apr 16, 5:53*pm, spop...[at]speedymail.org (Steve Pope) wrote: - quote - > How legitimate is it to put it onto Schdule C, rather
Art is correct. There is no election to make. An author's royalty> than Schedule E? *What determines this for an author? income is self-employment income reported on Schedule C (and Schedule SE if the total is large enough). -- << ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- > |
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04-17-2009, 02:14 AM
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| Re: Obama Royalty Income In article <gs8809$h9g$1[at]blue.rahul.net> , Steve Pope <spope33[at]speedymail.org> wrote: - quote - > How legitimate is it to put it onto Schdule C, rather > than Schedule E? What determines this for an author? The author lists it on schedule C. Someone who buys the rights or inherits the royalty rights shows it on schedule E. -- ArtKamlet at a o l dot c o m Columbus OH K2PZH -- << ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- > |
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#-1
04-16-2009, 09:53 PM
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| Obama Royalty Income How legitimate is it to put it onto Schdule C, rather than Schedule E? What determines this for an author? Steve -- << ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- > |
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