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Do i need to add a 1099 that has #6 199A (g) marked with a few dollars

 
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4 Replies
HelenC12
Expert Alumni

Do i need to add a 1099 that has #6 199A (g) marked with a few dollars

Yes, if you are required to file an income tax return. Generally, an amount included in your income is taxable unless it is specifically exempted by law. Income that is taxable must be reported on your return and is subject to tax. Income that is nontaxable may have to be shown on your tax return but is not taxable.

 

 

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Do i need to add a 1099 that has #6 199A (g) marked with a few dollars

so where do i put the information in as its in box 6   says Section 199A (g) deduction

 

 Copy B  Form 1099-PATR 2020 taxable distributions

Do i need to add a 1099 that has #6 199A (g) marked with a few dollars

My 1099-DIV with a 199A value is in box 5.  In forms view, TT uses the value in that box to reduce your reduce your taxable amount of the gross in box 1.  

 

The objective is make sure you take advantage of the tax-free nature of that income source.

 

Good luck.

ToddL99
Expert Alumni

Do i need to add a 1099 that has #6 199A (g) marked with a few dollars

If you received a Form 1099-PATR, enter the information (including Box 6, Sec 199A(g) Deduction) as follows:

 

To enter a 1099-PATR for farm or co-op dividends:

  1. Open (continue) your return in TurboTax.
  2. Inside TurboTax, search for 1099-PATR (be sure to include the dash) and then select the Jump tolink in the search results.
  3. Follow the instructions to enter info about your farm.
  4. When you get to Your Farming Income and Expenses, you will enter your 1099-PATR info in Livestock, grain, produce, custom work, co-ops.

If your 1099-PATR isn't for farm or co-op dividends, it gets entered as general business income:

  1. Open (continue) your return in TurboTax.
  2. Inside TurboTax, search for business (schedule c) (use this exact phrase) and then select the Jump to link in the search results.
  3. When asked Did you have any self-employment income or expenses? answer Yes.
    1. If you'd previously entered self-employed income, you'll come to Your 2020 self-employed work summary. Select Add another line of work to enter information about your farm.
  4. Follow the instructions to enter info about your farm.
  5. When you get to Let's enter the income for your (type of farming) work, select Other self-employed income and Continue.
  6. Enter the information from your 1099-PATR on the Tell us about other self-employed incomescreen.

Where do I enter Form 1099-PATR?

 

 

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