So, i don't need to report 1099-PATR income?
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So, i don't need to report 1099-PATR income?

i received $377.17 worth of dividends from carolina farm credit. IT is a under "taxable distributions received from cooperatives". This is privately owned land by me and I am not using it to make an income.
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So, i don't need to report 1099-PATR income?

If the dividends in Box 1 of your 1099-PATR came from property purchased for personal use or capital assets/depreciable property used in your business, you do not have to enter your 1099-PATR. Keep it with your tax records.

Otherwise, Form 1099-PATR gets reported on Schedule F (Profit or Loss from Farming) in most cases.

In TurboTax, please do the following:

  • Federal Taxes
  • Wages & Income
  • Other Business Situations, click Show more
  • Farm Income and Farm Rental, click Start

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