1099 forms

Report miscellaneous income (royalty interest) to the IRS. Revenue is reportable when ≥ $10. Always reportable - If an owner has income tax withheld (Box #4), XTO must report it.

Statutory Interest Income - Revenue is reportable when ≥ $600. Always reportable - If an owner has federal tax withheld, XTO must report it.

Report non-employee compensation income (working interest) to the IRS. Revenue is reportable when ≥ $600.

Please find below the math in order to get from the gross value to the net value:

Gross Value - Deductions (already includes the State Withholdings) + Reimbursements - Taxes + Statutory Interest = Net Value.