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EC North Dakota | The 1099-PATR is showing gross sales to the company. The per-unit retain allocations has to do with the coop and its tax structure. Be sure your sales amounts are at least equal to if not greater than what is shown on the 1099-PATR as if not it may be an automatic trigger for IRS to check you closer.
I am on an elevator board and we have to send them to anyone who sells grain to us. Our auditor tells us that by doing it this way it saves the coop money on their taxes and does not change what the producer pays in taxes, it is just another form for us to fill out.
Your revolving equities and retained earnings are different from the 1099-PATR statement.
Edited by JonND 1/28/2013 20:39
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1099 from Coop
