Yes, royalty and rental income received from a trade or business property owned by the trust will each generate QBI for the trust to pass through to beneficiaries, assuming that the income for each qualifies as QBI for the property held by the trust. For example, rental real estate may or may not qualify as QBI, depending on whether the rental property meets the IRS safe harbor requirements. See the IRS article on the rental real estate safe harbor at this link for an overview of the safe harbor requirements for rental real estate.
Note that the royalties and rentals will be reported in different boxes on the trust K-1 for recipients. As a result, the recipient may need to enter the trust K-1 into TurboTax as if it were reported on two separate K-1s--one for the royalty income reported in box 5 "Other portfolio and nonbusiness income" and the second for "net rental real estate income" reported in box 7.
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