Why sign in to the Community?

  • Submit a question
  • Check your notifications
Sign in to the Community or Sign in to TurboTax and start working on your taxes
New Member
posted Jun 3, 2019 10:33:41 AM

What is the difference in total income from cooperative distributions and taxable income from cooperative distributions on form 4835 farm rental income

Turbo Tax asks for amounts for both but the document I have doesn't use the same language.

0 2 1040
1 Best answer
New Member
Jun 3, 2019 10:33:43 AM

The reason there are two separate lines of entry for your 1099-PATR is because some of the income reported on a 1099-PATR may not be taxable income to you. The taxable portion of a 1099-PATR depends on the products you bought from the co-op,---if they were bought to operate a business or rental. If what you bought was for either of the two (business or rental), you must report it as taxable income. So if everything you bought from the co-op was for personal use, you would enter the total amount in the total income line but with a $0 in the taxable income line.

2 Replies
New Member
Jun 3, 2019 10:33:42 AM

What form (document) are you trying to enter? 1099-PART? 1099-G? And why did you receive the income?

New Member
Jun 3, 2019 10:33:43 AM

The reason there are two separate lines of entry for your 1099-PATR is because some of the income reported on a 1099-PATR may not be taxable income to you. The taxable portion of a 1099-PATR depends on the products you bought from the co-op,---if they were bought to operate a business or rental. If what you bought was for either of the two (business or rental), you must report it as taxable income. So if everything you bought from the co-op was for personal use, you would enter the total amount in the total income line but with a $0 in the taxable income line.