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Get your taxes done using TurboTax
Most often, Form 1099-PATR reports dividends associated with farms. However,
you may also receive this form for other reasons, for example if you have your
home mortgage from a land bank.
In general, the dividend that was
reported to you on Form 1099-PATR can be entered on Schedule B using the
following steps:
- Click on Federal > Wages & Income.
- Scroll down to the Interest and Dividends section and click on the Start/Revisit box next to Dividends on 1099-DIV.
- Answer Yes to Did you receive any dividend income? (even though it was not reported on a 1099-DIV)
- On the next screen, click on I'll type it in myself.
- Enter the dividend information and continue through the rest of the interview.
There are situations were the 1099-PATR does not have to be entered. If the dividends in Box 1 of your 1099-PATR came from property purchased for personal use (or capital assets or depreciable property used in your business), you do not have to enter your 1099-PATR. Keep it with your tax records, though.
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‎June 4, 2019
9:20 PM
4,848 Views