It took seven years after my wife’s death to get ancillary probate on her (Maine) will in Major County, Oklahoma. I received lump sum from Sandridge in 2024. Can I spread those royalties over several years for tax purposes?
Probably not - check your CPA.
Most individuals are cash basis, so most likely no is the answer.
If you could spread over several years, you would most likely have to go backwards and amend prior returns. And the reported royalties would not match the 1099 for 2024 or other years. Just a thought.
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