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State of Alaska>
Departments
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Revenue
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PFD Division >
Notice
Reporting a Dividend for Federal Tax Purposes
Dividends for both adults and children are taxable for federal income tax
purposes. Even if part or all of your dividend was garnisheed, the entire
amount of the dividend must be reported as taxable income. If you fail to
report the PFD on your federal income tax return, a negligence penalty or other
sanctions may be imposed on you.
The amount of the 2004 Permanent Fund Dividend was $919.84.
The state's Federal Tax Identification number is 92-6001185.
Report the amount of your or your child's PFD on IRS form 1040 on the line for
"Other Income." If you are eligible to file forms 1040A, 1040EZ or Tele File,
you may report this amount on the line for "Unemployment Compensation."
If taxes were withheld from your or your child's PFD, report the withheld amount
on IRS form 1040 on the line for "Federal Tax Withheld." If a refund is due
after you report the dividend and taxes withheld, the IRS will issue any refund
due.
The Permanent Fund Dividend Division does not provide tax advice to dividend
recipients. Contact the IRS by calling (800) 829-1040, visit their website at
www.irs.gov, or contact a tax preparer in your area for additional
information.
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