Скачать или смотреть Do I need to report my Royalties on my Taxes? Music Industry - 5 Mins or Less

It's a question we hear a lot and you may not like the answer.
Here are some links with further information:

https://www.irs.gov/pub/irs-tege/eoto...
https://www.thetaxadviser.com/issues/...
https://ttlc.intuit.com/community/inv...

In This Video:
I’m just going to rip this bandaid off quickly. Yes.

If you make more than $10 in royalties from a source you have to report it on your taxes. And you should be getting at 1099 form from your royalties sources.

What are those royalty sources? Well, it could be your publisher or administrator, PRO, HFA, Music Reports, the MLC, and any other source that pays you royalties.

For musicians/ producers/artists, you could be getting royalties from your record label, distributor, or sound exchange. Again, any place that has paid you $10 or more in royalties during a year should have sent you a 1099 form. And you should report it on your taxes.

I know it’s not the answer that you necessarily wanted, but it’s true.

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