Are the royalties from BPT subject to taxes if held in an IRA?

Mel, I cannot answer whether the income from BPT is taxable in your
IRA but I thought I'd pass along what my CPA told me about BPT and
other MLP's I own.  He said not to put them into Roths or regular
IRA's because of the deferred taxable income.  Hope this helps.

I really don't see why your account has a problem with this.  You
might want to research further
(http://www.virtualex.com/IRAInvestments.html, etc) as I have not
found any issues with holding BPT in any kind of Roth