Intellectual Property

Report intellectual property and income produced by intellectual property in Schedule A. 

Intellectual Property: Examples

For You

Schedule A

Report intellectual property if the value of the intellectual property was more than $1,000 at the end of the reporting period, or if your intellectual property produced more than $200 in income during the reporting period.

Block A: Describe the intellectual property. For a book, provide the names of the book and the publisher. For a patent, provide the patent number and a very brief description in the space provided. For other types of intellectual property, provide a similarly specific description that is sufficient for the reader to understand the nature of your property.

Block B: Report the value of the property by marking the appropriate column. If you cannot ascertain the value, leave Block B blank and write “value not readily ascertainable” below your description in Block A.

Block C: If you earned royalties, mark the column labeled “Rent and Royalties” and mark the “Amount” column that corresponds to the amount of royalties produced. However, if you received an advance or other earned income, you need to report the exact amount of income in the “Other Income” column. In that case, provide a short description of the type of income (e.g., “advance”).

For Your Spouse

Schedule A

Report your spouse’s intellectual property if any of the following are true: (1) the value of the intellectual property was more than $1,000 at the end of the reporting period, (2) the intellectual property produced more than $200 in royalties or capital gains during the reporting period, or (3) your spouse received an advance of more than $1,000 during the reporting period. If your spouse received any other type of income exceeding $1,000, consult your ethics official regarding reporting requirements, as you probably will need to report the income.

Block A: Describe the intellectual property. For a book, provide the names of the book and the publisher. For a patent, provide the patent number and a very brief description in the space provided. For other types of intellectual property, provide a similarly specific description that is sufficient for the reader to understand the nature of your spouse’s property.

Block B: Report the value of the property by marking the appropriate column. If you cannot ascertain the value, leave Block B blank and write “value not readily ascertainable” below your description in Block A.

Block C: If your spouse earned royalties, mark the column labeled “Rent and Royalties” and mark the “Amount” column that corresponds to the amount of royalties produced. However, if your spouse received an advance or other earned income, do not provide the amount of income; instead, write “spouse’s advance” or “spouse’s earnings” in the “Other Income” column.

 

This guide is not intended to provide investment advice, and you should not rely on statements in this guide when making investment decisions.