To enter or review the information for Form 1099-MISC, Box 2 Royalties
- From within your TaxACT return (Online or Desktop), click on the Federal Q&A tab
- Click Form 1099-MISC to expand the category and then click 2-Royalties
- The program will proceed with the interview questions for you to enter or review the appropriate information
Income reported in Box 2 is generally reported on Schedule E; however, if you are in the business as a self-employed writer, inventor, artist, etc., report your royalty income and expenses on Schedule C.
If you also have federal and/or state tax withholding reported in Box 4 or 16, see Form 1099-MISC - Box 4 or Box 16.