Passive Income as a Sole Prop. I consider myself a sole proprietor. In recent years past I had expenses and income related to the creation of some personal websites. I still own the websites, however I do not perform any work related to them - I continue to earn income similar to royalties. This is my sole source of income (well, except for my husband's SSD income - we file jointly). In my opinion, this is passive income. I know I am still responsible for regular income taxes on the income earned from my websites, but do I have to pay self employment taxes for the income earned from these websites?
Thank you for any assistance. |