1099 reporting for rights to use artwork

August 18, 2020

Share

Q. We paid an individual $500 for the rights to their artwork in a magazine (two illustration pieces). We have an image license agreement which grants my company a license to the images of the artwork (collectively, "Images") to use them in any and all formats and media for publication in a magazine marketed by my company. I collected the W-9 from the individual and the individual is a US citizen. Would this be considered/reported as royalty income for 1099 reporting purposes? A. (Answered by a…

  Become A Member

Join IOFM today as a Professional, Business, or Enterprise Member — or upgrade your Starter Membership — to get access to this content and thousands of other Articles, Webinars, Expert Answers, Resource Downloads, and more!

Join Today


Naturally, this forum doesn’t allow the kind of full information exchange necessary for the Institute of Finance & Management (IOFM) to provide legal advice and the Expert is not a tax attorney in any event. Please understand that the nature of our responses are limited by these constraints as well as the site’s Terms of Use. If you have further questions or suggestions about how we can improve IOFM, please let us know. 
Ask The Expert is a member resource of IOFM and all advice provided is subject to site’s Terms of Use.

Subscribe to our Monthly Insider

You may unsubscribe from our mailing list at any time. Diversified Communications | 121 Free Street, Portland, ME 04101 | +1 207-842-5500