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Trust assets
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Horseaddict
Level 2
02-15-2020
12:55 AM
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Trust with royalties from mineral rights was closed and the beneficiaries have created a partnership with the mineral rights assets. Can I do distribution to beneficiaries without making it taxable? I was told the FMV is about $800,000 based on barrels of oil expected to be produced.
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1 Comment 1
Ernie
Level 9
02-15-2020
11:31 AM
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I think EVERYONE would love to have tax free income.
How should royalties be handled and taxed when in a Partnership?
