topic Can I include personal oil royalty income with my business income for determining how much I can contribute to my SEP IRA. in Retirement tax questions https://ttlc.intuit.com/community/retirement/discussion/can-i-include-personal-oil-royalty-income-with-my-business-income-for-determining-how-much-i-can/01/572368#M53667 Wed, 05 Jun 2019 21:29:37 GMT marywaretax 2019-06-05T21:29:37Z Can I include personal oil royalty income with my business income for determining how much I can contribute to my SEP IRA. https://ttlc.intuit.com/community/retirement/discussion/can-i-include-personal-oil-royalty-income-with-my-business-income-for-determining-how-much-i-can/01/572368#M53667 Wed, 05 Jun 2019 21:29:37 GMT https://ttlc.intuit.com/community/retirement/discussion/can-i-include-personal-oil-royalty-income-with-my-business-income-for-determining-how-much-i-can/01/572368#M53667 marywaretax 2019-06-05T21:29:37Z NO! Oil  royalties from mineral extraction of the rights... https://ttlc.intuit.com/community/retirement/discussion/no-oil-royalties-from-mineral-extraction-of-the-rights/01/572373#M53670 <P>NO! Oil &nbsp;royalties from mineral extraction of the rights you own,are considered passive sources of income.</P><P>Compensation, or earned income, is required to make a traditional and/or Roth IRA regular contribution.<BR /></P><P>Any amount “derived from or received as earnings or profits from property” heads the list of income not recognized as compensation for IRA purposes. This includes interest, dividends on stock, rental income, royalties, or gains received when property is sold (long- or short-term capital gains).&nbsp;<BR /></P> Wed, 05 Jun 2019 21:29:38 GMT https://ttlc.intuit.com/community/retirement/discussion/no-oil-royalties-from-mineral-extraction-of-the-rights/01/572373#M53670 view2 2019-06-05T21:29:38Z