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jkgardner827
New Member

Where do I enter 1099-PATR taxable distributions received from a cooperative if I do not have farm income?

 
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Accepted Solutions
IreneS
Intuit Alumni

Where do I enter 1099-PATR taxable distributions received from a cooperative if I do not have farm income?

Most often, Form 1099-PATR reports dividends associated with farms. However, you may also receive this form for other reasons, for example if you have your home mortgage from a land bank.

In general, the dividend that was reported to you on Form 1099-PATR can be entered on Schedule B using the following steps:

  1. Click on Federal > Wages & Income
  2. Scroll down to the Interest and Dividends section and click on the Start/Revisit box next to Dividends on 1099-DIV.
  3. Answer Yes to Did you receive any dividend income? (even though it was not reported on a 1099-DIV)
  4. On the next screen, click on I'll type it in myself.
  5. Enter the dividend information and continue through the rest of the interview.

 

There are situations were the 1099-PATR does not have to be entered.  If the dividends in Box 1 of your 1099-PATR came from property purchased for personal use (or capital assets or depreciable property used in your business), you do not have to enter your 1099-PATR. Keep it with your tax records, though.




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3 Replies
AndreaC1
Level 9

Where do I enter 1099-PATR taxable distributions received from a cooperative if I do not have farm income?

What kind of co-op was it? Or are there dividends in Box 1 that come from purchase of property for personal use (or capital assets/depreciable property used in business)?
jkgardner827
New Member

Where do I enter 1099-PATR taxable distributions received from a cooperative if I do not have farm income?

It was from the purchase of property (land and our home). It was definitely for our personal use. It was not used in a business and we are not involved in farming. We simply used this company, Capital Farm Credit, to finance the purchase of acreage on which to build our home.
IreneS
Intuit Alumni

Where do I enter 1099-PATR taxable distributions received from a cooperative if I do not have farm income?

Most often, Form 1099-PATR reports dividends associated with farms. However, you may also receive this form for other reasons, for example if you have your home mortgage from a land bank.

In general, the dividend that was reported to you on Form 1099-PATR can be entered on Schedule B using the following steps:

  1. Click on Federal > Wages & Income
  2. Scroll down to the Interest and Dividends section and click on the Start/Revisit box next to Dividends on 1099-DIV.
  3. Answer Yes to Did you receive any dividend income? (even though it was not reported on a 1099-DIV)
  4. On the next screen, click on I'll type it in myself.
  5. Enter the dividend information and continue through the rest of the interview.

 

There are situations were the 1099-PATR does not have to be entered.  If the dividends in Box 1 of your 1099-PATR came from property purchased for personal use (or capital assets or depreciable property used in your business), you do not have to enter your 1099-PATR. Keep it with your tax records, though.




**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

View solution in original post

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