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 answer calls. Anyone else in a similar situation with Chord? Thanks!
Some companies report the net royalties (gross royalties less all expenses) as a single number, instead of reporting the gross royalties and itemizing the deductions. It can be aggravating but they are unlikely to change this. You can report the true gross royalties Schedule E of your tax return to maximize the depletion deduction and then deduct the expenses.
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Thank you