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To enter royalty income in the TaxAct program:

Complete Schedule E (Form 1040) (if you need help accessing Schedule E, go to our Schedule E - Entering Rental Property in Program FAQ):

  1. From within your Schedule E, continue with the interview process until you reach the screen titled Rental and Royalty Income - Property Type.
  2. Click the Property type dropdown, then click 6 Royalties.
  3. Continue with the interview process to enter your information.

Royalty income is generally reported on Schedule E; however, if you are in business as a self-employed writer, inventor, artist, etc., report your royalty income and expenses on Schedule C (Form 1040) Profit or Loss From Business (if you need help accessing Schedule C, go to our Schedule C - Entering Sole Proprietorship in Program FAQ).


After you complete Schedule E (or Schedule C), you can report royalty income that was reported to you on Form 1099-MISC (if you need help accessing Form 1099-MISC, go to our Form 1099-MISC - Entering in Program FAQ):

  1. From within your Form 1099-MISC, continue with the interview process until you reach the screen titled 1099-MISC: Enter information on form.
  2. Click the data entry field below Box 2 - Royalties, and type the amount.
  3. Continue with the interview process to enter your information (and assign Form 1099-MISC to the Schedule E or C that pertains to the royalty income).

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