Hello

My Client is now responsible for tax filling for a farm co-op within the estate (which we are also filing).

Received form 1099-PATR - this is  the first one I have ever dealt with.

Box 1 has dividends of $56 and box 7 (qualified payments) is $19,682. (Box 5 is $189 and Box 6 is $298).

My concerns are the difference between box 1 and box 7 - what is the actual reportable income? Unfortunately the prior two years records were lost in a flood and no returns were filed. This co-op farm has been part of the estate for at least 25 years. Other than expenses there is no further information. The company in which the crop is sold to provided the 1099-PATR but were not able to furnish any other info.

If anyone can kindly shed some light onto the handling of the 1099-PATR that would be most helpful

Thank you!

Kathy