Contango 1099

Accounting and Taxes
1

I have not received my 1099 from Contango for 2022 and it is the only thing left that I need to file my taxes. It’s almost impossible for me to “create” the 1099 from the checks they sent as two of them were missing the detailed breakdown of gross, production taxes, withholding taxes, etc.

I’ve tried contacting them in several different ways and on several occasions and no one returns phone call or emails.

Very frustrated by this company.

2

It can be very frustrating. Have you joined EnergyLink? Contango uses them for their statements. If you have a statement from Contango it will have your owner number on it and you can contact EnergyLink to set up an account for you. You can then download the statements.

Also, send a certified letter requesting your 1099. If you have less than $100, you may not need one.

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I feel you, we tussle with them every year. They change accounting software like I change pants! We ended up using the numbers from the EnergyLink statements, which they eventually told us were correct, but we have yet to get a corrected 1099 from them. Very frustrating dealing with them.

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I received a corrected 1099 from Contago today. I knew the previous one was wrong but never did contact them due to the small amount. Hopefully you’ll receive one soon as well.

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Thanks very much for your assistance. I was able to join EnergyLink to print the missing statements. I am confused about taxes though. On the statements, it shows deductions for both “withholding tax” and “severance tax”. On the last page of the statements, some checks have had a total for “Owner Deductions” and some have had zero in that field. The statements that have a total for “Owner Deductions” have lines called “Gathering” that produce those totals. All checks have an amount for “Owner Taxes”. In trying to replicate the 1099 to file my taxes, it is just the “withholding taxes” that are my actually payments to the state for income tax purposes?

Thanks for any light you can shed on this!

Ross

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