Solved: QBI

orrockcpa1 · ‎03-28-2019

Is oil&gas royalty income QBI?

itonewbie · ‎03-28-2019

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.

---------------------------------------------------------------------------------
Still an AllStar

View solution in original post

itonewbie · ‎03-28-2019

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.

---------------------------------------------------------------------------------
Still an AllStar

QBI

©1997-2024 Intuit, Inc. All rights reserved.

Intuit, QuickBooks, QB, TurboTax, and Mint are registered trademarks of Intuit, Inc. Terms and conditions, features, support, pricing and service options subject to change without notice.

By accessing and using this page you agree to the Terms and Conditions.