# Accounting and Taxes **URL:** https://www.mineralrightsforum.com/c/accounting-and-taxes/12.md [Latest](https://www.mineralrightsforum.com/latest.md) · [Categories](https://www.mineralrightsforum.com/categories.md) · [Tags](https://www.mineralrightsforum.com/tags.md) --- ## [CPA or Tax Accountant](https://www.mineralrightsforum.com/t/cpa-or-tax-accountant/89000)
**Author:** [@Marco](https://www.mineralrightsforum.com/u/Marco)\ **Replies:** 12\ **Last updated:** [September 13, 2026, 8:44pm UTC](https://www.mineralrightsforum.com/t/cpa-or-tax-accountant/89000 "2026-09-13T20:44:24Z")
Our owned/leased o/g Marcellus/Utica acres with INR in Noble/Guernsey Counties in Ohio in two approved units are beginning production. We live in Maine and are thinking ahead to tax seasons. Maine having no o/g sites h… --- ## [What if producer doesn't withhold state taxes?](https://www.mineralrightsforum.com/t/what-if-producer-doesnt-withhold-state-taxes/88637)
**Author:** [@VivianV](https://www.mineralrightsforum.com/u/VivianV)\ **Replies:** 4\ **Last updated:** [August 16, 2026, 8:27pm UTC](https://www.mineralrightsforum.com/t/what-if-producer-doesnt-withhold-state-taxes/88637 "2026-08-16T20:27:31Z")
For the first time, I have a big mineral producer that doesn’t withhold for Oklahoma state withholding taxes. What should I do? All our mineral holdings are in a trust, so that once a year, the trust files the non resid… --- ## [Oklahoma tax drama](https://www.mineralrightsforum.com/t/oklahoma-tax-drama/88529)
**Author:** [@Rebbie](https://www.mineralrightsforum.com/u/Rebbie)\ **Replies:** 4\ **Last updated:** [July 29, 2026, 6:01pm UTC](https://www.mineralrightsforum.com/t/oklahoma-tax-drama/88529 "2026-07-29T18:01:56Z")
I own a very small working and ORRI interest in an Oklahoma well. I am a Texas resident trying to do the right thing. I have Ok withholding on the proceeds to avoid any OK tax penalties although some years there is no l… --- ## [Looking for tax attorney in Marshall County, WV](https://www.mineralrightsforum.com/t/looking-for-tax-attorney-in-marshall-county-wv/88602)
**Author:** [@TPD](https://www.mineralrightsforum.com/u/TPD)\ **Replies:** 1\ **Last updated:** [July 17, 2026, 10:57pm UTC](https://www.mineralrightsforum.com/t/looking-for-tax-attorney-in-marshall-county-wv/88602 "2026-07-17T22:57:02Z")
Any recommendations or anti-recommendations? I don’t live in WV so someone who can do Zoom calls is a plus. Any general advice regarding shopping for an attorney is welcome. --- ## [Reporting Mineral Rights Ownership to County](https://www.mineralrightsforum.com/t/reporting-mineral-rights-ownership-to-county/87922)
**Author:** [@Rustic](https://www.mineralrightsforum.com/u/Rustic)\ **Replies:** 5\ **Last updated:** [June 4, 2026, 6:38pm UTC](https://www.mineralrightsforum.com/t/reporting-mineral-rights-ownership-to-county/87922 "2026-06-04T18:38:12Z")
I recently established ownership on some mineral rights in Ward County, TX. This was many years in getting settled. I am now receiving royalties. These rights are in my grandmother’s name and had not been transferred to … --- ## [CPA recommendation](https://www.mineralrightsforum.com/t/cpa-recommendation/86780)
**Author:** [@spicoli](https://www.mineralrightsforum.com/u/spicoli)\ **Replies:** 4\ **Last updated:** [April 15, 2026, 6:28pm UTC](https://www.mineralrightsforum.com/t/cpa-recommendation/86780 "2026-04-15T18:28:09Z")
Hi, my siblings are inheriting some mineral interests in East Texas; there are 30 plus operators. We’ll possibly need a CPA. Can anybody recommend one? Thanks --- ## [Chord/Oasis 1099 inaccurate](https://www.mineralrightsforum.com/t/chord-oasis-1099-inaccurate/86954)
**Author:** [@Joysters5](https://www.mineralrightsforum.com/u/Joysters5)\ **Replies:** 5\ **Last updated:** [April 13, 2026, 1:13am UTC](https://www.mineralrightsforum.com/t/chord-oasis-1099-inaccurate/86954 "2026-04-13T01:13:08Z")
Hello: Our 2025 1099 underreported income from Chord and did not include a summary of the year’s expenses. They do not respond to numerous repeated phone calls requesting an amended 1099 and only have a recording to answ… --- ## [IRS Depletion Deduction](https://www.mineralrightsforum.com/t/irs-depletion-deduction/86434)
**Author:** [@CSR30srlty](https://www.mineralrightsforum.com/u/CSR30srlty)\ **Replies:** 18\ **Last updated:** [March 17, 2026, 4:27pm UTC](https://www.mineralrightsforum.com/t/irs-depletion-deduction/86434 "2026-03-17T16:27:34Z")
Through a Royalty Deed I inherited in 2025, I’ve now received one very small, but IRS reportable, sum of money that I need to include on my 1040 and I have a very basic question that I hope someone will answer. The 1099-… --- ## [Are NARO conventions/seminars expenses deductible?](https://www.mineralrightsforum.com/t/are-naro-conventions-seminars-expenses-deductible/86473)
**Author:** [@TexasOwner13](https://www.mineralrightsforum.com/u/TexasOwner13)\ **Replies:** 3\ **Last updated:** [March 13, 2026, 7:44am UTC](https://www.mineralrightsforum.com/t/are-naro-conventions-seminars-expenses-deductible/86473 "2026-03-13T07:44:56Z")
An accounting question that is probably relevant to many on this site. (I scrolled the titles to posts in this category for the last 4+ years and can’t find if it’s been addressed.) I’m very new to all of this and last … --- ## [Unleased Mineral Rights tax forms](https://www.mineralrightsforum.com/t/unleased-mineral-rights-tax-forms/86006)
**Author:** [@janx813](https://www.mineralrightsforum.com/u/janx813)\ **Replies:** 6\ **Last updated:** [March 12, 2026, 12:26am UTC](https://www.mineralrightsforum.com/t/unleased-mineral-rights-tax-forms/86006 "2026-03-12T00:26:10Z")
I have inherited Unleased Mineral Rights in Howard County, Texas. In 2025 I was contacted stating I had Royalty money in Suspense. I sent in a W9 and received the suspense money and ongoing monthly payments. My issue is … --- ## [1099 form reporting on oil-gas royalties](https://www.mineralrightsforum.com/t/1099-form-reporting-on-oil-gas-royalties/86016)
**Author:** [@kimkay13](https://www.mineralrightsforum.com/u/kimkay13)\ **Replies:** 5\ **Last updated:** [March 11, 2026, 2:14pm UTC](https://www.mineralrightsforum.com/t/1099-form-reporting-on-oil-gas-royalties/86016 "2026-03-11T14:14:17Z")
I have a question about my 2025 taxes, specifically my 1099 from EOG. (I’ll make up the numbers for ease.) There is a gross amount in box 2 of 50,000. All other boxes are empty. Above the form, they have typed: Taxes= $… --- ## [Treatment of depletion and lease bonus](https://www.mineralrightsforum.com/t/treatment-of-depletion-and-lease-bonus/85562)
**Author:** [@mineralinterested](https://www.mineralrightsforum.com/u/mineralinterested)\ **Replies:** 7\ **Last updated:** [March 11, 2026, 11:55am UTC](https://www.mineralrightsforum.com/t/treatment-of-depletion-and-lease-bonus/85562 "2026-03-11T11:55:09Z")
Hello, just clarifying a couple things before tax season. We can deduct 15% of the gross royalties paid as depletion every year as long as wells are producing? Can all royalties be lumped together in one deduction on … --- ## [Schedule E reporting](https://www.mineralrightsforum.com/t/schedule-e-reporting/85812)
**Author:** [@AngelaA](https://www.mineralrightsforum.com/u/AngelaA)\ **Replies:** 3\ **Last updated:** [March 11, 2026, 11:49am UTC](https://www.mineralrightsforum.com/t/schedule-e-reporting/85812 "2026-03-11T11:49:56Z")
I’m new to this. I received a 1099-MISC from the operator for royalties of the 6 gas leases. Since it’s the same operator number and field, and they gave me a total number for the 6 leases, do I put it on Schedule E as o… --- ## [1099-MISC inconsistencies](https://www.mineralrightsforum.com/t/1099-misc-inconsistencies/86253)
**Author:** [@Paul\_L](https://www.mineralrightsforum.com/u/Paul_L)\ **Replies:** 1\ **Last updated:** [March 10, 2026, 1:49am UTC](https://www.mineralrightsforum.com/t/1099-misc-inconsistencies/86253 "2026-03-10T01:49:01Z")
My wells are in Logan County, Oklahoma. Just realized my 2025 1099-MISC from Contango changed the way they handle OK state income tax withholding when reporting on the 1099-MISC. In tax years 2023 and 2024 for example, t… --- ## [MT oil lease tax](https://www.mineralrightsforum.com/t/mt-oil-lease-tax/85880)
**Author:** [@Elaine370](https://www.mineralrightsforum.com/u/Elaine370)\ **Replies:** 1\ **Last updated:** [February 6, 2026, 3:26pm UTC](https://www.mineralrightsforum.com/t/mt-oil-lease-tax/85880 "2026-02-06T15:26:38Z")
I live in Texas, and have an oil lease in Richland County, Montana. Will I owe Montana state taxes? Thank you for any info. --- ## [Establishing a cost basis after mineral sale](https://www.mineralrightsforum.com/t/establishing-a-cost-basis-after-mineral-sale/84597)
**Author:** [@TexasRedhead](https://www.mineralrightsforum.com/u/TexasRedhead)\ **Replies:** 10\ **Last updated:** [January 17, 2026, 5:46pm UTC](https://www.mineralrightsforum.com/t/establishing-a-cost-basis-after-mineral-sale/84597 "2026-01-17T17:46:13Z")
Sold Section 36, Township 10N, Range 9W in Oklahoma. Need to establish basis at time of inheritance, late 2019. Curious why the buyer would not have any history, but I’m getting nowhere with them. Thoughts? --- ## [Ad Valorem Taxes in TX - Efficiency?](https://www.mineralrightsforum.com/t/ad-valorem-taxes-in-tx-efficiency/85173)
**Author:** [@min4me](https://www.mineralrightsforum.com/u/min4me)\ **Replies:** 8\ **Last updated:** [January 3, 2026, 11:53pm UTC](https://www.mineralrightsforum.com/t/ad-valorem-taxes-in-tx-efficiency/85173 "2026-01-03T23:53:03Z")
A while back, I posted a thread concerning being surprised by a tax bill from a county in Texas in which I had no royalty interest holdings. Subsequent to that, I was surprised by another tax bill from another county in … --- ## [Irresponsible family member not paying taxes](https://www.mineralrightsforum.com/t/irresponsible-family-member-not-paying-taxes/84332)
**Author:** [@JohnA](https://www.mineralrightsforum.com/u/JohnA)\ **Replies:** 5\ **Last updated:** [October 26, 2025, 7:05pm UTC](https://www.mineralrightsforum.com/t/irresponsible-family-member-not-paying-taxes/84332 "2025-10-26T19:05:42Z")
We own property in Texas that has an oil and gas lease on it. The property is equally divided among the family. One family member has been designated to handle the payment of property taxes on behalf of the group. One f… --- ## [O&G Tax Preparer](https://www.mineralrightsforum.com/t/o-g-tax-preparer/84223)
**Author:** [@Brad\_Ham](https://www.mineralrightsforum.com/u/Brad_Ham)\ **Replies:** 13\ **Last updated:** [October 23, 2025, 12:20pm UTC](https://www.mineralrightsforum.com/t/o-g-tax-preparer/84223 "2025-10-23T12:20:36Z")
Hi all. I love this forum! I live in Georgia but have some mineral property in Texas. Our accountant in Georgia was not familiar with how to prepare our mineral rights but finally went back three years to amend a 15% dep… --- ## [Taxed in Taylor county TX on a well that is entirely in Fisher county?](https://www.mineralrightsforum.com/t/taxed-in-taylor-county-tx-on-a-well-that-is-entirely-in-fisher-county/84054)
**Author:** [@min4me](https://www.mineralrightsforum.com/u/min4me)\ **Replies:** 4\ **Last updated:** [October 7, 2025, 8:37pm UTC](https://www.mineralrightsforum.com/t/taxed-in-taylor-county-tx-on-a-well-that-is-entirely-in-fisher-county/84054 "2025-10-07T20:37:33Z")
Just when I think I am starting to understand a topic I get hit with something seemingly out of the blue that I cannot explain or understand. What am I missing? I have attached a 4-page document. The first page is an exc… --- ## [Royalty Income, Passive or Business Income?](https://www.mineralrightsforum.com/t/royalty-income-passive-or-business-income/83477)
**Author:** [@Ronald\_Elmer\_Emmerson](https://www.mineralrightsforum.com/u/Ronald_Elmer_Emmerson)\ **Replies:** 1\ **Last updated:** [September 5, 2025, 7:45pm UTC](https://www.mineralrightsforum.com/t/royalty-income-passive-or-business-income/83477 "2025-09-05T19:45:42Z")
I just became aware of a recent IRS Letter Ruling 202535011 which concludes “Based solely on the facts submitted and representations made, we conclude X’s Mineral Royalties are income derived in the ordinary course of a … --- ## [JIB Statement vs Check](https://www.mineralrightsforum.com/t/jib-statement-vs-check/82151)
**Author:** [@Jerry\_Ithaca](https://www.mineralrightsforum.com/u/Jerry_Ithaca)\ **Replies:** 1\ **Last updated:** [June 27, 2025, 11:43pm UTC](https://www.mineralrightsforum.com/t/jib-statement-vs-check/82151 "2025-06-27T23:43:54Z")
Why does my monthly JIB check not match the monthly statement/report? Typically they are close but never match. My mineral interest payment always matches the monthly report. --- ## [Jib net revenue definition](https://www.mineralrightsforum.com/t/jib-net-revenue-definition/82125)
**Author:** [@Glrice65](https://www.mineralrightsforum.com/u/Glrice65)\ **Replies:** 1\ **Last updated:** [June 26, 2025, 5:28pm UTC](https://www.mineralrightsforum.com/t/jib-net-revenue-definition/82125 "2025-06-26T17:28:52Z")
I am a cotenant in wells in Reeves County, Texas. I have been receiving payments since January 2025. In looking at the statements there is a line item that is described as jib revenue net. Generally this line item has be… --- ## [Capital Gains Taxes](https://www.mineralrightsforum.com/t/capital-gains-taxes/80742)
**Author:** [@Polstead](https://www.mineralrightsforum.com/u/Polstead)\ **Replies:** 6\ **Last updated:** [May 26, 2025, 7:50pm UTC](https://www.mineralrightsforum.com/t/capital-gains-taxes/80742 "2025-05-26T19:50:46Z")
I am selling my mineral rights. I was expecting to pay capital gains taxes on the full amount. But a land expert said don’t do that. Those minerals have been there for centuries. I should determine the cost basis of the … --- ## [2016 Leon County MineralRights Value](https://www.mineralrightsforum.com/t/2016-leon-county-mineralrights-value/81404)
**Author:** [@Eva2016](https://www.mineralrightsforum.com/u/Eva2016)\ **Replies:** 2\ **Last updated:** [May 17, 2025, 2:33pm UTC](https://www.mineralrightsforum.com/t/2016-leon-county-mineralrights-value/81404 "2025-05-17T14:33:50Z")
Current values $10,000 plus. 2016 values needed to determine capital gains tax. --- ## [Tax questions](https://www.mineralrightsforum.com/t/tax-questions/81337)
**Author:** [@mineralinterested](https://www.mineralrightsforum.com/u/mineralinterested)\ **Replies:** 4\ **Last updated:** [May 15, 2025, 3:19am UTC](https://www.mineralrightsforum.com/t/tax-questions/81337 "2025-05-15T03:19:41Z")
Hello, we filed an extension for 2024 and I’m just reviewing the returns before filing. I don’t think our CPA deals with mineral rights much, so I had 2 questions: Do royalty interests that receive 1099 misc file that … --- ## [Help Determining Capital Gains Tax](https://www.mineralrightsforum.com/t/help-determining-capital-gains-tax/81203)
**Author:** [@Tony\_Larman](https://www.mineralrightsforum.com/u/Tony_Larman)\ **Replies:** 5\ **Last updated:** [May 11, 2025, 1:29pm UTC](https://www.mineralrightsforum.com/t/help-determining-capital-gains-tax/81203 "2025-05-11T13:29:43Z")
My family has recently sold all of our Mineral Interest in Ward County, Texas. We inherited our minerals from our grandmother when she passed in 1996. Now we will need to determine the basis for determining and paying th… --- ## [Well Reached Payout after Penalty for not participating](https://www.mineralrightsforum.com/t/well-reached-payout-after-penalty-for-not-participating/80160)
**Author:** [@Spunky\_dez](https://www.mineralrightsforum.com/u/Spunky_dez)\ **Replies:** 7\ **Last updated:** [April 25, 2025, 4:50am UTC](https://www.mineralrightsforum.com/t/well-reached-payout-after-penalty-for-not-participating/80160 "2025-04-25T04:50:28Z")
How do you know if an oil and gas operator is being honest about a well being in pay status after penalty is paid for not participating in your working interest portion? How can you double check this? Especially when you… --- ## [What kind of tax is on a 1099](https://www.mineralrightsforum.com/t/what-kind-of-tax-is-on-a-1099/80898)
**Author:** [@turkeyman](https://www.mineralrightsforum.com/u/turkeyman)\ **Replies:** 1\ **Last updated:** [April 15, 2025, 8:47pm UTC](https://www.mineralrightsforum.com/t/what-kind-of-tax-is-on-a-1099/80898 "2025-04-15T20:47:17Z")
Newbie here. I received royalties on mineral rights in Major County, Oklahoma. The 1099 doesn’t say where the withheld taxes (about 5% of total) are sent. Is it an Oklahoma income/royalty tax? Or something else? When I f… --- ## [Hilcorp Energy & NM Remittee's Agreement](https://www.mineralrightsforum.com/t/hilcorp-energy-nm-remittees-agreement/80026)
**Author:** [@realgwyneth](https://www.mineralrightsforum.com/u/realgwyneth)\ **Replies:** 3\ **Last updated:** [April 11, 2025, 1:40am UTC](https://www.mineralrightsforum.com/t/hilcorp-energy-nm-remittees-agreement/80026 "2025-04-11T01:40:00Z")
My mineral rights ownership account was recently transferred from Apache to Hilcorp, which has been sending me communications that are not clear. Now Hilcorp has sent me a form called an “Owner’s or Remittee’s Agreement … [Next page](https://www.mineralrightsforum.com/c/accounting-and-taxes/12.md?page=1)