The literary agent (whether or not a corporation) that receives the royalty payment on behalf of the author must report the gross amount of royalty payments to the author on Form 1099-MISC whether or not the publisher reported the payment to the agent on its Form 1099-MISC. Report the gross royalties (before reduction for fees, commissions or expenses) paid by a publisher directly to an author or literary agent, unless the agent is a corporation. Use box 2 to report royalty payments from intangible property such as patents, copyrights, trade names, and trademarks. Do not report timber royalties made under a pay-as-cut contract report these timber royalties on Form 1099-S, Proceeds from Real Estate Transactions. Do not report oil or gas payments for a working interest in box 2 report payments for working interests in box 7. Report royalties from oil, gas, or other mineral properties before reduction for severance and other taxes that may have been withheld and paid. Use the 1099 Detail Report to see a list of 1099 vendors and accounts.Įnter gross royalty payments (or similar amounts) of $10 or more.
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If you are unsure of which account to use, please consult your accounting professional for assistance. Note: Each account may only be mapped to one 1099 box. For each account you used to pay 1099 vendors, click the drop-down arrow in the 1099 box column to choose the box on Form 1099 where these payment amounts should appear (i.e., if you associated the rents paid to the owner of your business's building with the Rent account, you should choose Box 1 for the Rent account). Click Get Started and then Continue to the Map vendor payment accounts page.
Ensure that the Vendor eligible for 1099 checkbox is checked, and then click OK.Ĭlick Vendors and then Print/E-file 1099s. For QuickBooks 2013 and later, in the Edit Vendor window, click the Tax Settings tab. Ensure that the Vendor eligible for 1099 checkbox is checked, and then click OK. For QuickBooks 2012, in the Edit Vendor window, click the Additional Info tab. From the list on the left, select the desired vendor. Then, ensure that your accounts are correctly mapped to the Form 1099.Ĭlick Vendors, and then Vendor Center. If this amount is not correct, first, make sure that you have correctly set up this vendor as a 1099 vendor. QuickBooks adds together all payments made to this vendor from any account you've associated with the Rents box on the 1099 form.
Coin-operated amusements include video games, pinball machines, jukeboxes, pool tables, slot machines, and other machines and gaming devices operated by coins or tokens inserted into the machines by individual users. Return of Partnership Income, and provide each partner with the information necessary to report the partner's share of the taxable income. However, if the arrangement is a joint venture, the joint venture must file a Form 1065, U.S. If an arrangement between an owner of coin-operated amusements and an owner of a business establishment where the amusements are placed is a lease of the amusements or the amusement space, the owner of the amusements or the owner of the space, whoever makes the payments, must report the lease payments in box 1 of Form 1099-MISC if the payments total at least $600. Public housing agencies must report in box 1 rental assistance payments made to owners of housing projects.Ĭoin operated amusements.
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