Vendor Administrator Federal 1099 Print ranges and options

Ranges

Options

Style (1-11) + L(for Laser) e.g. or 6L

You can only print one style of 1099 forms at a time. Two styles are fully supported by Infor:

Style 6 is the Miscellaneous form (1099-MISC) and is used to report miscellaneous income paid to vendors.
Style 11 is the Nonemployee Compensation form (1099-NEC) and is used to report nonemployee compensation to vendors.

Specify one of the other styles if you have developed your own custom routines for them. These are the different types of 1099 forms:


1099-A	Information Return for Acquisition or Abandonment of Secured Property
1099-B	Statement for Recipients of Proceeds From Broker and Barter Exchange Transactions
1099-DIV	Statement for Recipients of Dividends and Distributions
1099-G	Statement of Recipients of Certain Government Payments
1099-INT	Statement for Recipients of Interest Income
1099-MISC	Statement for Recipients of Miscellaneous Income
1099-NEC	Statement for Recipients of Nonemployee Compensation
1099-OID	Statement for Recipients of Original Issue Discount
1099-PATR	Statement for Recipients of Taxable Distributions Received From Cooperatives
1099-R	Statement for Recipients of Total Distributions From Profit Sharing, Retirement Plans, Individual Retirement Arrangements, Insurance Contracts, Etc.
1099-S	Statement for Recipients of Proceeds From Real Estate Transactions

(C)urrent or (P)revious Year's Payments?

Specify C to print total payments to each vendor for the current year. If you decide to print the current year’s payments, you must not have generated the Vendor Administrator Year End Report yet. Year-end processing moves the balances in Payments YTD to Payments Last YTD. The Payments YTD value changes to zero and prevents an amount from printing on the 1099.

Specify P to print total payments to each vendor for the previous year. If you have already performed year end processing, specify P to print the previous year’s payments. This prints the Payments Last YTD values from each vendor record on the 1099 form.

Note: If you select Yes for the For Prior Tax Year option, and you are sending output to magnetic media, you must select Previous for the (C)urrent or (P)revious Year's Payments option. Otherwise, the message Cannot Use Current Year Payments to Generate Prior Year Tax Year Report is displayed and no output is created.

(V)oid, (C)orrected, or (N)either

Specify V to mark 1099s as void.

Specify C to mark 1099s as corrected.

Specify N either to not mark at all.

Generally, do not mark 1099s unless they were sent to the wrong vendors, or mistakes were made when they were originally printed and a corrected version now needs to be mailed.

Note: The Void and Corrected options are only applicable to printed forms, not magnetic tape output.

Minimum Payment Amount

Specify an amount if the vendor's year-to-date payments must reach a minimum balance before a 1099 form prints. If you specify a minimum balance, only those vendors with a Payments YTD balance equal to or greater than the minimum balance will have a 1099 printed.

Leave this field zero to print a 1099 form for every vendor.

(P)rint 1099s, (M)agnetic Media

Specify M to record the 1099s on magnetic media. You must select M if you are generating 1099-MISC or 1099-NEC forms.

The IRS generally requires that if you generate more than 250 Form 1099 returns, you must submit them to the IRS on magnetic media. If you specified M for this option, an ASCII file named 1099MAG is created and written to the directory you defined in SA Company Setup as your Print directory.

Note: A Vendor Federal Tax Setup record must be set up before you can print to magnetic media.

Specify P to print the 1099s on the proper forms on your printer using your custom forms print.

Printer for Magnetic Media Report

If you specified M for the (P)rint 1099s, (M)agnetic Media option, specify the printer device you want the Magnetic Media Report sent to. The Magnetic Media Report is a summary of the vendors whose 1099 data is included in the 1099MAG file.

Export File To Email Address

If you use CloudSuite Distribution, you should specify an email address here. The 1099MAG mag media file is output when you run the Vendor Administrator Federal 1099 Print Report. This file is included as an attachment in an email sent to the specified address. The recipient of the email can save the mag media file attachment to a location accessible to you. You can then send the file to the Internal Revenue Service (IRS) according to your established procedures.

You should restrict access to the Vendor Administrator Federal 1099 Print Report through SA Operator Setup. For example, you enable access to the function for your tax personnel or personnel who deal with outside vendors doing work for you. You should also create a procedure to delete the email after the file has been moved to a directory outside of the cloud or uploaded to the IRS.

For Prior Tax Year?

Use this option to generate the Vendor Administrator Federal 1099 Print for a prior tax year. This loads a 'P' in the Prior Year Indicator field in Position 6 of the T record in the 1099 output. You must also select Previous for the (C)urrent or (P)revious Year's Payments option to extract data from the Payments Last Year field for each vendor in Vendor Setup. The Payment Year on the 1099 output is updated with the current year minus 1.

Select No to leave the Prior Year Indicator field blank in the 1099 output. The payment data extracted for the 1099 is assumed to be for the current reporting year. If you are generating this report after the end of the calendar year, but before you run Vendor Administrator Year End, the current year is the previous calendar year.

If you have already run Vendor Administrator Year End, leave this option as No, but select Previous for the(C)urrent or (P)revious Year's Payments option.