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Should I report patronage dividends reported on form 1099-PATR as income?
I purchased a second home using a mortgage obtained through a land bank. I am taking a tax deduction on the interest paid on this mortgage. I also received a patronage dividend from the land bank that was reported on from 1099-PATR. Should I report this patronage dividend as income? Should I reduce the interest deduction by the amount of the patronage dividend?
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‎June 1, 2019
9:33 AM