shf1957
Level 7
05-13-2021
11:29 PM
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Person is a logger and received a 1099PATR dividend.. does this go on the schedule C or on the 1040 where dividends go?
BUT have to state he has small busn loans to the same place.. BUT ALSO 2 LARGE HOME MORTGAGES TO THEM TOO.
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dkh
Level 15
05-14-2021
08:05 AM
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I have clients that receive the 1099-PATR from the bank that holds their home mortgage. Those dividends are not taxable. I report on Schedule Other Income with this statement
FORM 1099-PATR BOX 1 $xxx.xx - NOT TAXABLE
dkh
Level 15
05-14-2021
08:09 AM
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I found my documentation that supports that -- IRS Pub 225, page 13
