1099-PATR

[Sodak]

I have a 1099-PATR from an Ag Co-op with entries in Box 1, 5, and 12.  Turbo Tax (Home and Business) provides instruction to enter "Total dividend and taxable dividend" on Line 2 of Form 4835.  Turbo Tax does not provide any guidance with how to handle specific boxes on 1099-PATR.  From internet searches to other sources, I have determined that box 1 and 5 are taxable dividends, while box 12 is a credit that can be subtracted from the taxable amount.  Can Turbo Tax advise the proper way to handle these 3 boxes on my return?

[DianeW777]

Please clarify the type of entry in Box 12, and we can respond specifically to your question.  Below is a list of items that can be in Box 12.

Box 12. Other Credits and Deductions  For the patron, state separately in box 12 the type and amount of each of the following credits and deductions.

• The empowerment zone employment credit (Form 8844).
• The low sulfur diesel fuel production credit (Form 8896).
• The credit for small employer health insurance premiums (Form 8941).
• The credit for employer differential wage payments (Form 8932).
• The deduction for capital costs incurred by small refiner cooperatives when complying with EPA sulfur regulations.
• The biodiesel, renewable diesel, or sustainable aviation fuel mixture credit (Form 8864

[kayla01]

I have a similar situation on Form 1099-PATR from a cooperative, with amounts in boxes 1, 5, and 12.  Boxes 1 and 5 I reported as income, but I'm unsure how to report box 12.  Box 12 includes a pass through credit from form 6478 related to 2nd generation biofuel producer credit.  I planned to report this on Form 3800 but not sure if that is correct?  Also, would this be passive or non-passive credit? 

[Sodak]

My box 12 is for "2nd Generation Biofuel Producer Tax Credit"

[PatriciaV]

Yes, according to the IRS Instructions for Form 6478 (Biofuel Producer Credit), individual taxpayers report this credit directly on the appropriate line of Form 3800, General Business Credit, for a Form 1040 tax return.

If you are using TurboTax for Desktop, this entry may be easier using Forms Mode to open the 3800 Worksheet. then continue from step 4.

1. To enter this from Form 1099-PATR Box 12, use the search (magnifying glass) tool. Enter "3800," hit enter, then click on "jump to 3800."
2. Say No to the question about carryovers.
3. You should see Form 6478 in the list on the next page. Continue.
4. In the sub-form, scroll down to Line 4c Biofuel Producer Credit (Form 6478).
5. Enter the amount from Box 12 on Line 1 and check the box on Line 2 (you are not the active producer).
6. Continue to save your entries.

@Sodak 

@kayla01