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1099 reporting for rights to use artwork
March 29, 2023
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…
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