Form 1099-MISC - Royalties
1
To enter or review the information for Form 1099-MISC, Box 2 Royalties:
  1. From within your TaxAct® return (Online or Desktop), click on the Federal tab. On smaller devices, click in the upper left-hand corner, then select Federal
  2. Click Form 1099-MISC to expand the category and then click 2-Royalties
  3. 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.