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Retirement tax questions
See the following answer from TurboTax Expert MonicaK to a similar question:
To enter a 1099-PATR for farm or co-op dividends:
- Open (continue) your return in TurboTax
- Inside TurboTax, search for 1099-PATR (be sure to include the dash) and then select the Jump to link in the search results
- Follow the instructions to enter info about your farm
- When you get to Your Farming Income and Expenses, you will enter your 1099-PATR info in Livestock, grain, produce, custom work, co-ops
If your 1099-PATR isn't for farm or co-op dividends, it gets entered as general business income:
- Open (continue) your return in TurboTax
- Inside TurboTax, search for business (schedule c) (use this exact phrase) and then select the Jump to link in the search results
- When asked Did you have any self-employment income or expenses? answer Yes
- If you'd previously entered self-employed income, you'll come to Your 2022 self-employed work summary. Select Add another line of work to enter information about your farm
- Follow the instructions to enter info about your farm
- When you get to Let's enter the income for your (type of farming) work, select Other self-employed income and Continue
- Enter the information from your 1099-PATR on the Tell us about other self-employed income screen
See this help article for more information.
See here for more information from the IRS on this topic.
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February 20, 2023 9:01 AM
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March 30, 2025
1:55 PM