I got my 'revised' 1099 from Etrade and none of the problems I had reported have been fixed.
Etrade uses a company called Broadridge (?) for the 1099 preparation.
I understand Fidelity uses Wall Street Concepts.
They are all useless. My 1099 has some very glaring problems including some MLP distributions reported as dividends and duplicate reporting of income - where I received a substitute payment in lieu f dividend, the 1099 reports the substitute payment AND the payment reported in the normal way (royalties). So it is saying I received the same payment twice. Plus there is a lot of mis-classification of royalty payments like what bgr912 is complaining about. I hoped this would be fixed before filing deadline but now I have to either request an extension or file when the 1099 is still screwed up and include a letter explaining the discrepancy.
All of this is nothing to do with any of the trusts. It is entirely the incompetence of the company which does the 1099 preparation (and that is not the broker as they all outsource it
You will not get a K-1. They do not classify, but they just released new data which required a 1099 revision. This is absolutely the biggest piece of #$%$ I have ever invested in. I have lost almost half my original investment and at the 11tth hour they send out tax revsions.
No they did not release new data.
They released their tax information a few months ago and there is no new information.
What you are referring to is just the revisions done by your brokerage (not by the trust) which is par for the course on all the royalty trusts - the brokerages don't get their final version of the 1099s out till March or April if you hold trusts, even though the tax information was released by the trust months earlier.
You shouldn't even be relying on the 1099 which is created by the brokerage. You should be using the tax booklet which is the only thing published by the trust and has been available online for months already.