Get IRS 1099-PATR 2022-2024

Inside TurboTax, search for 1099-PATR (be sure to include the dash) and then select the Jump to link in the search results. Follow the instructions to enter info about your farm. When you get to Your Farming Income and Expenses, you will enter your 1099-PATR info in Livestock, grain, produce, custom work, co-ops.

The 1099-PATR income should be shown as Other Income reported on Form 1040, Schedule 1, Part I, Line 8z. You should report it as “1099-PATR profits from” your co-op and list the co-op's Taxpayer Identification Number (TIN).

Reporting Patronage Dividends If the recipient is a business, the patronage dividends will be reported on Schedule C. Farmers usually report patronage dividends on Schedule F. However, patronage dividends received from purchases of personal or family items are not required to be reported.

Box 7. For specified agricultural and horticultural cooperatives only, enter the qualified payments paid to the patron. You are required to provide this information whether or not you pass any of the section 199A(g) deduction through to the patrons.

Taxpayers who earned at least $10 in patronage dividends and other distributions from a cooperative are sent a 1099-PATR. A 1099-PATR is often used to report dividends associated with farms. A 1099-PATR can also be issued to taxpayers if they had federal income tax withheld in connection with a cooperative.

To report Form 1099-PATR on Schedule F: From within your TaxAct return (Online or Desktop), click Federal (on smaller devices, click in the top left corner of your screen, then click Federal). Click the Business Income dropdown, then click Farming income or loss.

Go to the Income/Deductions > Farm / 4835 worksheet. Click section 1 - General. Input line 9 - Farm rental. Click section 3 - Income. Input line 4 - Distributions received from cooperatives. Input line 5 - Distributions received from cooperatives - taxable amount. Calculate the return.

Distributions you received from a cooperative may be included in your income. Report any amounts shown in boxes 1, 2, 3, and 5 as income, on Schedule F, Schedule C, or Form 4835 (Farm Rental Income and Expenses).