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Revenue 1099 Example

Email contact@chk.com to re-request a copy of your 1099. To allow our representatives to best assist you, you must include your owner account number.

Mouse over the blue markers for a description of each item.

  1. This amount is the proportionate ownership share of lease tax as reflected on your revenue detail issued between January 1, and December 31, of the tax year.
  2. This amount is the proportionate ownership share of lease deducts as reflected on your revenue detail issued between January 1, and December 31, of the tax year. This does NOT include netted expenses (reflected with a deduct code of NE).
  3. This amount is the net revenue distributed to you on payments issued from January 1, to December 31, of the tax year. This does NOT include netted expenses.
  4. This amount is the owner gross value for royalties (including overriding royalties and production payments) as distributed to you between January 1, and December 31, of the tax year.
  5. This amount is the federal backup withholding, which is most commonly withheld because your tax identification number was not on file with Chesapeake at the time of payment.
  6. This amount is the owner gross value for working interest revenue distributed to you between January 1, and December 31, of the tax year.
  7. This number uniquely identifies your account with Chesapeake. Please have your owner number available when calling the Chesapeake Contact Center so we may promptly access your account.
  8. This is the amount of state taxes withheld as required by New Mexico (non-resident), Oklahoma (non-resident), Montana (as required) and Utah (as required).
  9. This information represents the state(s) in which income is reportable.
  10. This amount represents the gross amount of revenue that is reportable to the state(s) in which the well(s) are located. It is the combined total of box two and box seven.
Example 1099

 


Explanation of Numbered Items Above

  1. This amount is the proportionate ownership share of lease tax as reflected on your revenue detail issued between January 1, and December 31, of the tax year.
  2. This amount is the proportionate ownership share of lease deducts as reflected on your revenue detail issued between January 1, and December 31, of the tax year. This does NOT include netted expenses (reflected with a deduct code of NE).
  3. This amount is the net revenue distributed to you on payments issued from January 1, to December 31, of the tax year. This does NOT include netted expenses.
  4. This amount is the owner gross value for royalties (including overriding royalties and production payments) as distributed to you between January 1, and December 31, of the tax year.
  5. This amount is the federal backup withholding, which is most commonly withheld because your tax identification number was not on file with Chesapeake at the time of payment.
  6. This amount is the owner gross value for working interest revenue distributed to you between January 1, and December 31, of the tax year.
  7. This number uniquely identifies your account with Chesapeake. Please have your owner number available when calling the Chesapeake Contact Center so we may promptly access your account.
  8. This is the amount of state taxes withheld as required by New Mexico (non-resident), Oklahoma (non-resident), Montana (as required) and Utah (as required).
  9. This information represents the state(s) in which income is reportable.
  10. This amount represents the gross amount of revenue that is reportable to the state(s) in which the well(s) are located. It is the combined total of box two and box seven.

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