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Business & farm
Oil royalties are considered "portfolio" or "investment income". Investment income includes gross income from interest, dividends, annuities, or royalties not derived in the ordinary course of a trade or business.
So, unless you have a "working interest" in the oil well or wells (which would be reported on Schedule C), your oil rents or royalties would not be considered Qualified Business Income.
‎June 3, 2019
5:06 PM