permanent fund dividend

[andreadeeh]

We're claiming grandson Casey this year,  do we put his PFD on our taxes or file seperate for him?

[Critter]

Where do I enter my 2019 Alaska Permanent Fund Dividend (Alaska PFD)?

Your 2019 Alaska Permanent Fund dividend goes in the 1099-MISC section. Here's how to get there:

1. Open your tax return, if it isn't already open.
2. Search for alaska fund and select the Jump to link in the search results.
3. Answer Yes to Did you get a 1099-MISC? (even if the answer is no)
   • Select Add another 1099-MISC if you come to the 1099-MISC Summary screen.
   • If you're using the Free version, follow the prompt to upgrade to Deluxe.
4. Select who the dividend is for if you're filing jointly. Then enter:
   • Permanent Fund Dividend Division in Who Paid You?
   • 92-6001185 for the Payer's Federal ID Number.
   • Enter 1606 in Box 3, then select Continue.
5. On the next screen, enter Alaska Permanent Fund Dividend as the reason and select Continue.
6. On the Does one of these uncommon situations apply? screen, select This was an Alaska Permanent Fund dividend distribution.

If you're filing jointly and your spouse received an Alaska PFD, select Yes on the following screen and repeat these steps, starting with Step 4.

Your Alaska PFD gets reported on Form 1040, Schedule 1, Line 8.

What about my child's Alaska PFD?

A child's Alaska PFD needs to be reported, even if it was their only source of income in 2019.

If your child's total income was exclusively unearned (meaning the Alaska PFD, plus interest, dividends, or capital gains distributions—no wages or other income earned by working) and was less than $11,000, you can either report their PFD on your return or your child can report it on their own return.

Otherwise, if your child's unearned income (including the Alaska PFD) is $11,000 or more, they must file their own return.

Follow these steps if you want to include your child's PFD on your return:

1. Select the Federal tab.
2. Select Wages & Income.
3. On the Your income summary screen, scroll down to Less Common Income and select Show more.
4. Select Start next to Child's Income (Under Age 24).

Answer the questions and TurboTax will fill out Form 8814 that shows the child's income.

Related Information:

• How do I report income from self-employment?
• How does the Standard Deduction differ from itemizing deductions?
• Where do I enter my medical expenses?