Royalty 1099

Just received my 1099 from Antero.  It had the deductions listed but not the Net Paid.  When I noticed this looked back at my other 1099's and discovered two of them did not have deductions or net paid.  Contacted Antero and they said they are not required to put those items on 1099's.  What??????  This has cost us thousands of dollars in taxes that we did not owe.  Has anyone had this experience?  Does anyone have any suggestions?  I would be very grateful for any help.

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Permalink Reply by Nancy Mosley on February 7, 2019 at 5:11pm

My 1099 from them had the gross and deductions but not net. It is helpful to have the gross amount on the 1099 because most people take the 15% depletion from the gross. Some companies only show the net, then you have to find the gross.

Permalink Reply by Arnold L Stuart on February 8, 2019 at 7:35am

My 1099 did not have the net either however subtract the deductions from the gross and you have your net, also on your monthly statements Antero does list your gross, net and deductions. Another thing that I do is I chart each well on Excel by breaking down the net of each well and the deductions each month, The numbers from my chart are right on to the numbers on the 1099. 

Permalink Reply by Nancy Mosley on February 8, 2019 at 3:59pm

I also record the price, mcf/barrel amount, whether oil, gas, or NCG or PPR, etc. A lot of work but good information.

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