TaxBandits Knowledge Base

What is IRS Form 1099-PATR?

Form 1099-PATR is an annual IRS tax return filed by the cooperatives of business for each person if:

• They paid the person at least $10 in patronage dividends and other distributions mentioned in section 6044(b). 
• If they withheld any federal income tax under the backup withholding rules from the person, irrespective of the payment amount.

The individual for whom Form 1099-PATR is filed must receive a copy of the return from the cooperatives, as the distributions they receive from the cooperatives might be included in their taxable income.