Two types of 1099 income example Royalties and nonconpensation. Royalties $12, Non Comp $150. Only $12 printing on form.
Our tax professional says that once one item becomes reportable all items become reportable. So the normal $600 cap on non-compensation would not apply because the Royalties are reportable and the $150 should be reported to IRS.
I could not find a delivered solution for this exception. Is there one? Has anyone used a work around?