Re: Always interested...
When we had our taxes done this year, our CPA questioned me why PA sent me an 1909 form? I asked why not, and he said unless I made $600 or more, no need to report it. But, since PA sent the 1099 I would have to go ahead and list the small amount as income.
You would thing that someone at PA who takes care of this stuff would know this.
Of course, that does not excuse PA from reporting their income made from the books they sale, since they are the ones who makes the big bucks. I wonder also, since Mr. M is not a citizen (at least I don't think he is) of this country, does he report all income? Since PA would be considered a small business, then the income or loss of income can be attached to both their incomes (Mr. M and Mr. C) I wonder if they get a refund every year?
But, also, since LSI must report their income, and they are the ones that prints up the books PA sales, their recores must be right, leaving very wriggle room for PA to fudge on their books, but plenty to fudge on the authors as far as royalties goes.
V