Anyone got their tax forms from CHk yet? Is there a minimum amount of royalties before they are required to send?
ok, from what I am seeing, possibly has to be a minimum of $600 before a form it required to be sent
I don't think there is any minimum. If a company pays you royalties, you should get a 1099. I have a relative who gets about $15/year from an old well with CHK, and the 1099 comes every year.
ok chk said that they are going out in a few days
I received my 1099 on Tuesday (1/29). The $600 threshold is for nonemployee compensation, awards, prizes, rents. For royalties (and interest from banks - on 1099-INT) is $10. The other mentioned types of income is on 1099-MISC.
ok, got my 1099 from CHk. the amount was listed on Line 7 as Nonemployee compensation. Turbotax said that this might be incorrect and needs to be on line 3 and to contact provider to get a corrected form. Anyone tried to get this changed or should I not even worry about it
In researching the decades-old Tuscaloosa Trend and the immense wealth it has generated for many, I find it deeply troubling that this resource-rich formation runs directly beneath one of the poorest communities in North Baton Rouge—near Southern University, Louisiana—yet neither the university ( that I am aware of) nor local residents appear to have received any compensation for the minerals extracted from their land.
This area has suffered immense environmental degradation…
ContinuePosted by Char on May 29, 2025 at 14:42
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