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October 29, 2009

What do financial records tell us about authors?

In my case, they say Dude needs to get more organized. Here is more than you ever wanted to know about F. Scott Fitzgerald via American Scholar’s version of the IRS rubber glove treatment.

What can be learned from Fitzgerald’s tax returns? To start with, his popular reputation as a careless spendthrift is untrue. Fitzgerald was always trying to follow conservative financial principles. Until 1937 he kept a ledger—as if he were a grocer—a meticulous record of his earnings from each short story, play, and novel he sold. The 1929 ledger recorded items as small as royalties of $5.10 from the American edition of The Great Gatsby and $0.34 from the English edition. No one could call Fitzgerald frugal, but he was always trying to save money—at least until his wife Zelda’s illness, starting in 1929, put any idea of saving out of the question. The ordinary person saves to protect against some distant rainy day. Fitzgerald had no interest in that. To him saving meant freedom to work on his novels without interruptions caused by the economic necessity of writing short stories. The short stories were his main source of revenue.

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2 comments on “What do financial records tell us about authors?”

  1. Lilian Nattel says:

    Still…there’s something nice about being able to earn a living writing short stories, which is impossible now.

  2. Simon says:

    “Still…there’s something nice about being able to earn a living writing short stories, which is impossible now.”

    Dubious.

    Hemingway mentions “the ledger” in A Moveable Feast (with derision). He also says Fitzgerald would write his stories one way, and then change the endings for publication.

    Sounds like Hollywood, doesn’t it?

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