When royalties are paid,at the end of the year the payer sends the recipient a Form ________.
A)Schedule C
B)Schedule K-1
C)1099-MISC
D)1099-INT

Question

Quizplus · Accepted Answer

Form 1099-MISC is used to report miscellaneous income, such as royalties, to the recipient and to the IRS. Schedule C is used for self-employment income, Schedule K-1 is used for partnerships and S corporations, and Form 1099-INT is used for interest income.

When Royalties Are Paid,at the End of the Year the Payer