Royalties

Royalties from copyrights, patents, and oil, gas and mineral properties are taxable as ordinary income. 

You generally report royalties in Part I of Schedule E (Form 1040), Supplemental Income and Loss.  However, if you hold an operating oil, gas, or mineral interest or are in business as a self-employed writer, inventor, artist, etc., report your income and expenses on Schedule C or Schedule C-EZ..

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