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To enter or review the information for Form 1099-MISC, Box 2 Royalties:

If you have not already entered the applicable Schedule E information:

  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 Rent or Royalty Income to expand the category and then click Royalties
  3. Click Add to create a new copy of the form or Review to modify a form already created
  4. Continue with the interview process to enter all of your applicable royalty information, including selecting 6 - Royalties as the Property type
  5. When you reach the screen titled Royalty Income - Income, click Yes
  6. Click Yes to indicate that you received a Form 1099-MISC
  7. Click Add to create a new Form 1099-MISC
  8. Click Form 1099-MISC Quick Entry to open the Quick Entry window
  9. Enter all of the applicable information from your Form 1099-MISC
  10. Close the Quick Entry window
  11. Click Continue twice
  12. Assign the Form 1099-MISC that you just entered to the Schedule E that you are currently completing from the Assigned form or schedule drop-down list

If you have already entered the applicable Schedule E information:

  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
  3. Click Add to create a new Form 1099-MISC
  4. Click Form 1099-MISC Quick Entry to open the Quick Entry window
  5. Enter all of the applicable information from your Form 1099-MISC
  6. Close the Quick Entry window
  7. Click Continue
  8. Assign the Form 1099-MISC that you just entered to the applicable Schedule E from the Assigned form or schedule drop-down list.

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.


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