1099 PATR Reporting for Calendar Year 2010
By: Charles L. Telk Jr., CPA, Partner | email
January is the month that 1099’s are prepared and distributed. As a cooperative, the form 1099 PATR is used to report information to your patrons. The following are items typically associated with cooperatives and should be reported as described:
Box 1 – Patronage Dividends: Report the total amount of qualified patronage to each member in this box.
Box 3 – Per-Unit Retain Allocations: Report the total amount of per-unit retain allocations paid to each member during calendar year 2010 in this box. Per-unit retain allocations include amounts paid to patrons for grain. We suggest that you report the gross amount prior to deductions for storage, drying, etc. Remember that even if your cooperative has a fiscal year, you report the total paid during calendar year 2010.
Box 6 – Domestic Production Activities Deduction: Report the amount of section 199 domestic production activities deduction that you have distributed to your patrons during the 2010 calendar year in box 6.
