To enter Alaska Permanent Fund Dividends:
Select Federal Taxes on the top menu bar.
Click on Wages & Income.
Click "Jump to full list” if all items are not
displayed.
Scroll down the page
to 1099-MISC and Other Common Income and look for 'Income
from Form 1099-Misc'
Enter your 1099-Misc
information (including a description: Alaska Permanent Fund Dividend), then
on the following page check the button, "This
was an Alaska Permanent Fund dividend distribution."
For Child:
You have two options with the Permanent Fund Dividend,
and can choose the option which will benefit you most:
1. If your
child's total unearned income, including the PFD
was between $1,050 and $2,100 you can choose to include it in your
return by filing form 8814 (Parents' Election To Report Child's Interest and
Dividends) with your return. Unearned income includes interest and dividends
(including capital gain distributions), as well as the Alaska Permanent Fund
dividends.
To find the entry
point for Form 8814 in Turbo Tax, click on Federal Taxes (on the top menu bar)
and then Wages and Income. When the page opens, scroll down to see the
list of all income items (or Jump to Full List, if the full list isn't
displayed). Open the very last section, Less Common Income and select
Child's Income (Under Age 24).
2. If your child's PFD negatively impacts your tax return,
you can choose to file a separate return for him or her.
