The IRS has posted a draft version of instructions for Form 1099-PATR, “Taxable Distributions Received From Cooperatives,” proposed for 2020.
The draft instructions for Form 1099-PATR [PDF 190 KB] have a “watermark” date of October 15, 2019, and include cautionary language that these instructions are not to be relied upon for filing purposes, and are subject to change and to OMB approval before being officially released.
The draft instructions reflect that for 2020, new boxes are added and existing boxes are renumbered, retitled, and/or repurposed to allow for reporting information to patrons needed for section 199A.
For more information, contact KPMG’s National Director of Cooperative Tax Services:
David Antoni | +1 (267) 256-1627 | email@example.com
Or Associate National Director of KPMG’s Cooperative Tax Services:
Brett Huston | +1 (916) 554-1654 | firstname.lastname@example.org
The KPMG name and logo are trademarks used under license by the independent member firms of the KPMG global organization. KPMG International Limited is a private English company limited by guarantee and does not provide services to clients. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm. The information contained herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation. For more information, contact KPMG's Federal Tax Legislative and Regulatory Services Group at: + 1 202 533 4366, 1801 K Street NW, Washington, DC 20006.