Ask Terry Questions Untaxed income

Untaxed income

By Terry Savage on February 15, 2022 | Social Security

Other than my taxable employment , do i need to file money from notary public earnings of $20 and royalties (from fathers inheritance music)earnings of $565.00 and $125.50, from year 2021?

Terry Says

An inheritance is not taxes. But it seems like you might be talking about royalties paid to you from a music publisher. In that case, did you receive a 1099 showing the income? You definitely should declare it if you received a 1099, because that means it was reported to the the IRS by the payor. I wouldn’t worry about the $20 from being a notary.

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