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March 20, 2020
Question

Qualified Busines Income

  • March 20, 2020
  • 1 reply
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How do I determine if my miscellaneous income from an oil royalty is qualified business income. This royalty is shared with severl people. This has never come up while doing my taxes before as far as I can remember.

1 reply

March 20, 2020

Royalty income is Qualified Business Income and is eligible for the 20% QBI deduction.

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