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QBI

orrockcpa1
Level 1

Is oil&gas royalty income QBI?

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Accepted Solutions
itonewbie
Level 15

Oil and gas royalties are generally portfolio investment income and should not be eligible for §199A.  If your client receives payment for working interest, that would be another story.

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Still an AllStar

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1 Comment 1
itonewbie
Level 15

Oil and gas royalties are generally portfolio investment income and should not be eligible for §199A.  If your client receives payment for working interest, that would be another story.

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Still an AllStar