Where do I enter my Alaska Permanent Fund Dividend (Alaska PFD)?
Your 2016 Alaska Permanent Fund dividend goes in the 1099-MISC section under Wages & Income. You'll add it to Box 3 - Other Income.
Here's how to get there:
- Open your return in TurboTax.
(To do this, sign in to TurboTax and click the orange Take me to my return button.)
- In the search box, search for alaska fund and then click the "Jump to" link in the search results.
- Answer Yes to Did you get a 1099-MISC? (even if the answer is no).
- If you've already filled out a 1099-MISC, select Add another 1099-MISC here instead
- Select who the dividend is for if you're filing jointly. Then enter:
- Permanent Fund Dividend Division in Who Paid You?
- Select the appropriate choice under, How is your payer's federal ID number formatted?
- Enter 92-6001185 for the Payer's federal ID Number.
- Enter 1022 in Box 3, then click Continue.
- On the next screen, type Alaska Permanent Fund Dividend as the reason. Click Continue.
- On the Does one of these uncommon situations apply? screen, select the circle next to 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, Line 21.
The Alaska Permanent Fund Dividend is unearned income. If a child's unearned income (interest, dividends and capital gain distributions) is greater than $1,050, a return needs to be filed. The child can file their own return to report the income.
If the child's only income is unearned and less than $10,500, that income can be reported on their parents' tax return.
Follow these steps to add your child's income to your return:
- Click on the Federal Taxes tab
- Click on Wages and Income
- Click on "I'll choose what I work on"
- Scroll down the the Less Common Income
- Click on the Start button next to Child's Income (under Age 24).
Answer the questions and TurboTax will fill out Form 8814 that shows the child's income.