Form 1099-PATR - Taxable Distributions Received from Cooperatives
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Form 1099-PATR (Taxable Distributions Received From Cooperatives)
Per the IRS instructions, patronage dividends and other distributions in boxes 1,2,3, and 5 from a cooperative are reported on Schedule C, Schedule F, or Form 4835. You can refer to the recipient instructions for IRS Form 1099-PATR for additional information.
To enter the data on Schedule C or Schedule F:
From within your TaxACT return (Online or Desktop), click on the Federal Q&A tab
Click Business Income to expand the section, then select Farming Income or Loss or Business Income or Loss from a Sole Proprietorship, whichever is applicable to your situation
The program will proceed with the interview questions for you to enter or review the appropriate information
To enter the data on Form 4835 for farm rental:
From within your TaxACT return (Online or Desktop), click on the Federal Q&A tab
Click Rent or Royalty Income to expand the section, then select Farm rental for crop shares
The program will proceed with the interview questions for you to enter or review the appropriate information
Your request has been submitted
You have been successfully added to the TaxAct Do Not Sell list.