**The information below has not been verified for the 2020 tax year as the IRS Pub. 550 has not yet been released by the IRS.**
Alaska Permanent Fund Dividends (PFD) are entered in the Other Income section of the TaxAct Federal Q&A, and reported on Form 1040 U.S. Individual Income Tax Return or Form 1040-SR U.S. Tax Return for Seniors, Line 7b:
Per IRS Publication 550 Investment Income and Expenses (Including Capital Gains and Losses), on page 22:
Alaska Permanent Fund dividends. Do not report these amounts as dividends. Instead, include these amounts on Form 1040 or 1040-SR, line 7b.
Note that any link in the information above is updated each year automatically and will take you to the most recent version of the document at the time it is accessed.