landowner

Which comes First?

Will the DO or 1099 form come first? Or will they both arrive at the same time?


Thanks

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Permalink Reply by DrWAVeSport Cd1 on October 2, 2011 at 9:21

KB,

Hopefully, the Division Order will arrive before the 1099.  But, in O&G, all things are possible. LOL

Being patient is its own reward with this business.  If you are due a La DO, then call the Company that is your well/Section's operator.  They will know per DO mail status.  Knowing your well info will help.  It's pretty simple, but reading Caliente's post on"UMO Basics" is a must read for all mineral owners, leased or unleased.  This will walk you through the process and will answer most questions per DOs.

Good Luck to you.

DrWAVeSport Cd1 10/2/2011 


landownerPermalink Reply by Ken Boone on October 2, 2011 at 15:45

Thanks,

 

I'm working on  having patience. lol;)

Permalink Reply by DrWAVeSport Cd1 on October 3, 2011 at 6:04

KB,

Remember, you will get a 1099 for "bonus" moneys if you leased, and that has not really anything to do with royalty money 1099s.  In reference to "bonus" money, the DO is not relevant as DOs go out when a well is actually in the picture, not when bonus moneys are paid.  Join GHS Discussion "Death and Taxes," more info per 1099s and the Oil & Gas payee/tax questions.

In first reply I was speaking in terms of royalty moneys not bonus moneys.

DrWAVeSport Cd1 10/2/2011

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