Cross Timbers Royalty Trust
   
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Frequently Asked Questions
   
Disclaimer:  The information contained in this section of our Website is concise and is intended to only be a summary. Therefore, any information provided may not be complete. Unitholders are encouraged to read the Trust Agreement which is the document that describes the rights of Unitholders. Also, in the event of a conflict between anything described on our Website and the terms of the Trust Agreement, the Trust Agreement shall control. Furthermore, the federal, state and local tax consequences, and associated tax filing responsibilities, to a Unitholder of the ownership and sale of Units is dependent in part on each Unitholder's specific tax circumstances; therefore, Unitholders should consult their own tax advisors regarding all tax issues concerning the ownership and sale of Units. The Trust exercises thorough effort to ensure the accuracy of the content of this Website, but makes no warranties as to the site's accuracy or completeness and shall in no way be responsible for any loss or damages resulting from inaccuracies in information or any alterations made by third parties.

General Questions

What is a "unit?"
Can I purchase/sell the units directly from/to you?
Can I set up a DRIP (distribution reinvestment program?)
Are there a minimum number of units that I have to purchase?
Is this a master limited partnership?
Is there an end date to the trust?/How will the trust end?
What happens when the Trust terminates?
My address information is incorrect/has changed. Can you please update your records?

Tax Questions

When will the tax information be available?
Is the cash I receive from the Trust a qualified dividend?
Are the cash distributions taxed at the 15% rate?
Why aren't you providing me with a K-1?
Why did I receive this/these yellow worksheet(s) and booklet?
The 1099 I received from my broker shows an amount that is different from what I calculate using the tax booklet/what is shown on the Unitholder yellow worksheet that you sent me. Why?
I received two (or more) yellow worksheets with different amounts. Why?
The yellow worksheet I received has the incorrect number of units on it. Can you provide me with a corrected one?
The yellow worksheet I received has the incorrect times I owned the Trust units on it. Can you provide me with a corrected one?
Can you tell me how to input the information from the tax booklet into my tax preparation software?
I own my units in an IRA/tax-deferred account. Do I need to report this information on my tax return?

Depletion Questions

What is the definition of "cost basis?"
Can you tell me what the cost basis for my units is?
What was the cost basis for the units that XTO Energy Inc. declared as a dividend to their shareholders on September 19, 2003?
I purchased more than one block of units. Can I input the basis for all of those units at one time?
 
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