Taxes schedule C or E?

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Susanstunes
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Taxes schedule C or E?

Post by Susanstunes » Fri Mar 24, 2023 5:19 pm

Hi everyone-
Does anyone have the answer as to whether music royalties, say, from your PRO should be reported on Schedule C or Schedule E...

I have found conflicting info on the internet.

Thanks.
Susan

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Casey H
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Re: Taxes schedule C or E?

Post by Casey H » Fri Mar 24, 2023 5:27 pm

I just looked at our return, prepared by our accountant. Schedule E.

:mrgreen: Casey

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Susanstunes
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Re: Taxes schedule C or E?

Post by Susanstunes » Fri Mar 24, 2023 5:40 pm

Casey H wrote:
Fri Mar 24, 2023 5:27 pm
I just looked at our return, prepared by our accountant. Schedule E.

:mrgreen: Casey
Thanks Casey-
So, does that mean other income, say upfront pay from a Publisher would go somewhere else? (C)

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Casey H
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Re: Taxes schedule C or E?

Post by Casey H » Fri Mar 24, 2023 6:18 pm

Susanstunes wrote:
Fri Mar 24, 2023 5:40 pm
Casey H wrote:
Fri Mar 24, 2023 5:27 pm
I just looked at our return, prepared by our accountant. Schedule E.

:mrgreen: Casey
Thanks Casey-
So, does that mean other income, say upfront pay from a Publisher would go somewhere else? (C)
Not an accountant but for MANY years, all my music income, upfront or PRO, and my expenses have gone on Schedule E. But since I am not an accountant myself, I can't swear that it is the absolute right answer.

Best
:D Casey

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