REPORTING PATRONAGE DIVDEND WITHOUT SCH F OR C?
WHERE DO YOU REPORT A PATRONAGE DIVIDEND WITHOUT A BUSINESS OR FARM?
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aBZwMglXyr4kAbacfA8pyY
02/02/11 1:49pm PST
Viewed by asker 02/02/11 1:49pm PST
Viewed by asker 02/02/11 1:49pm PST
5 Replies
sjrcpa
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02/02/11 1:58pm PST
If they got it for making personal, nondeductible purchases it is probably not taxable.
The more I know, the more I don't know.
ArchieLeach
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02/02/11 2:05pm PST
Or, if you decide it is taxable for some reason, put it on 1040, line 21.
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peterhawaii
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02/02/11 2:16pm PST
Mimbreno
Accountant Allstar 02/16/10 5:24pm PST If the 1099-PATR is from a consumer cooperative that sells household goods then the dividend is not taxable nor reportable by an individual. An example of this kind of cooperative is a food co-op. The dividend is considered a reduction in the cost of the consumer goods purchased.
02/02/11 3:42pm PST
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Electric Co-ops are another example of businesses that give patronage dividends that are non-taxable.
Mt Juliet CPA
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02/02/11 3:02pm PST
Under most circumstances it would not be taxable
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