I received a1099- PART due to having a personal home mortgage with Greenstone Farm Credit Services. Do I have to report this Patronage dividend as income?

aroths · ‎June 6, 2019

DawnC0 · ‎June 6, 2019

No. If the dividends in Box 1 of your 1099-PATR came from property purchased for personal use, you do not have to enter your 1099-PATR. Keep it with your tax records, though.

Most often, your Form 1099-PATR reports dividends associated with a farm or cooperative (co-op). You can also receive a 1099-PATR for other reasons (for example, a land bank mortgage or backup withholdings made on your behalf).

The 1099-PATR gets entered if for a farm, co-op, or general business income.

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DawnC0 · ‎June 6, 2019

No. If the dividends in Box 1 of your 1099-PATR came from property purchased for personal use, you do not have to enter your 1099-PATR. Keep it with your tax records, though.

Most often, your Form 1099-PATR reports dividends associated with a farm or cooperative (co-op). You can also receive a 1099-PATR for other reasons (for example, a land bank mortgage or backup withholdings made on your behalf).

The 1099-PATR gets entered if for a farm, co-op, or general business income.

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I received a1099- PART due to having a personal home mortgage with Greenstone Farm Credit Services. Do I have to report this Patronage dividend as income?