topic I have Form 1099-PATR with box 5 entry. I have a land mortgage through the payer. I do not farm, rent or use for business. Where do I report box 5 redemption income? in Get your taxes done using TurboTax

I have Form 1099-PATR with box 5 entry. I have a land mortgage through the payer. I do not farm, rent or use for business. Where do I report box 5 redemption income?

chuck-graves — Thu, 06 Jun 2019 05:21:15 GMT

The only entry in the 1099-PATR is in box 5 - redemption of non-qualified notices and retain allocations.

According to the IRS, income on Form 1099-PATR Box 5 shou...

PatriciaV — Thu, 06 Jun 2019 05:21:17 GMT

According to the IRS, income on Form 1099-PATR Box 5 should be reported as ordinary income (see screenshot below - click to enlarge).

Since TurboTax does not have an interview set up for this particular form/income combination, you will need to enter this under Wages & Income >> Less Common Income >> Miscellaneous Income >> Other Reportable Income (see screenshot #2). Using this entry point, the amount from Box 5 will appear on Form 1040 Line 21 with the description you enter .

Very helpful - thanks!

chuck-graves — Thu, 06 Jun 2019 05:21:18 GMT

Very helpful - thanks!

Re: According to the IRS, income on Form 1099-PATR Box 5 shou...

Kathryn50 — Sun, 01 Mar 2020 19:56:10 GMT

I don't see a screenshot below and line 21 on 1040 is refund

Re: According to the IRS, income on Form 1099-PATR Box 5 shou...

VolvoGirl — Sun, 01 Mar 2020 19:57:26 GMT

This is a new forum layout. Some posts that have June 2019 dates are really older posts from the old forum that got moved over. So they might be for prior years and not current info. When they migrated over the dates got changed to June 2019. And the screen shots got deleted.