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April 14, 2025
Question

I have a 1099-PATR and do not see the 1099-PATR form in TurboTax Desktop 2024 version (it is up to date) How do I enter 1099-PATR income in desktop 2024?

  • April 14, 2025
  • 1 reply
  • 0 views
It is a lease to own structure that is personal and has a membership.. as I understand it the amount is a share of group earning of Farm Credit Mid America ACA

1 reply

PatriciaV
Employee
April 14, 2025

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.
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