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 tab. On smaller devices, click in the upper left-hand corner, then select Federal.
- Click Form 1099-MISC
- Click Add to create a new copy of the form or Review to review a form already created
- 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.