Form 1099-PATR, Taxable Distributions Received From Cooperatives
If you received any patronage dividends from a cooperative of at least $10, the cooperative will send you a Form 1099-PATR, Taxable Distributions Received From Cooperatives.
You may also receive this form for any backup withholdings made on your behalf.
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.
If the dividends reported in box 1 of your 1099-PATR fall into either of the following situations, you do not have to report them:
- Your dividend was paid on property purchased for personal use; or
- Your dividend was paid on capital assets or depreciable property used in your business.
Otherwise, Form 1099-PATR is reported on Schedule F (usually) or Schedule C.
If you're still not sure if you need to report your 1099-PATR or not, you can contact us. We can also connect you with an experienced tax professional at our TurboTax Personal Pro program for help with your tax return.
You can go through the step-by-step interview to enter your dividends as Other Income for your business. However, you can jump directly to the entry screen for this topic by.
Home & Business version:
- Select Business.
- Select Business Income and Expenses, and in a following screen, click I'll choose what I work on.
- Click Start/Update next to the Farm Rental Income and Expenses topic.
- Follow the prompts, if necessary, click Edit by your Farm Fame.
- On the main Your Farming Income and Expenses screen, click Start/Update next to Livestock, grain, produce, custom work, co-ops to enter your information.
If you've already stepped through the interview and want to jump directly to the entry screen for this topic, follow these steps.
Home & Business version:
- Select Business > Business Income & Expenses.
- Select I'll choose what I work on.
- Click Start or Update next to the Profit or Loss from Business.
- Follow the prompts to enter business profile information or click Edit next to your business.
- Click Start/Update next to Business Income.
- Click Start/Update next to General Income.
All other versions (2013 and earlier):
- Select Federal Taxes.
- Select Wages & Income, and in a following screen, click I'll choose what I work on.
- Scroll down the Your Wages & Income screen to the Business Items group.
- Click Start/Update ;next to the Business Income and Expenses (Sch C) category.
- Click Continue until you reach the Enter Business Income That’s Not on a 1099-MISC screen.
- Enter your dividend payment in the Other Income box.
- Where to Enter Data from Forms 1098 and 1099 in TurboTax
- Importing Your W-2, 1099, and 1098 Forms
- Have a question about the tax law?