My well was drilled by company 1which started drilling in late 2012, and completed in early 2013; sold last year to company 2, which quickly sold to company 3. I was billed for, and paid, my share of the drilling costs last year (2013). So far I have received IRS forms 1099 MISC from companies 1 and 2, and nothing from company 3. I did receive one revenue check in 2013 from company 3. I have been assuming I would be receiving a form K-1 from company 3, but they just informed me that since I’m not in a partnership, that I shouldn’t expect a K-1. Who should be providing me with a formal document showing my drilling costs, depreciation on the drilling machinery, and other such stuff? I have a phone call into company 1, since they did the actual drilling. HELP! April 15 nears, so I suspect I’ll end up filing for an extension.
Is this stuff I’ll have to figure out from the detailed line item costs, several hundred line items broken down by category?