The Permanent Fund Dividend (PFD) is reported to Alaska residents on Form 1099-MISC. In addition to the PFD, the payment may include a portion designated as Energy Relief. Only the PFD is taxable for federal purposes.
Each year the Alaska DOR publishes the amount of the payment residents will receive for the year, including any portion designated as the energy relief payment.
In TaxSlayer Pro, you won't enter this payment in the 1099-MISC menu. Rather, it is entered directly in Schedule 1.
To report the Alaska PFD in TaxSlayer Pro, from the main menu of the tax return (Form 1040) select:
- Income
- Other Income
- Alaska Permanent Fund Dividends - Enter the amount reported on Form 1099-MISC. For a return being filed MFJ, enter the amount for the taxpayer or spouse, based on the Recipient ID on the 1099-MISC.
If the payment includes a portion designated as an energy relief payment, enter it here as a negative amount:
- Income
- Other Income
- Other Income
- Other Income - Click New.
- Description of Other Income - Enter a description, e.g., "PFD Energy Relief Payment".
- Amount of Other Income - Enter as a negative number the energy relief portion of the amount reported on Form 1099-MISC in Box 3.
- Taxpayer or Spouse - For a return being filed MFJ, enter T or S as appropriate, consistent with the first entry.
Additional Information: