1099-MISC reporting

This functionality is specific for the United States.

In the United States, the Internal Revenue Service (IRS) is the government agency responsible for enforcing the tax regulations. 1099-MISC income is one of the types of revenue included, and certain supplier payments are subject to reporting under these regulations.

Setting up 1099-MISC reporting

To set up 1099-MISC reporting, use the following sessions in sequence:

  1. Allgemeine Firmendaten (tccom0102s000)

    On the appropriate menu, click 1099-Daten Steuerzahler (Am.) to start the 1099-Daten Steuerzahler (Am.) (tccom7137s000) session.

  2. 1099-Daten Steuerzahler (Am.) (tccom7137s000)

    Enter your company's payers details.

  3. Haupt-Zahlungsempfänger für 1099 (tfcmg3106m000)

    List the business partners for which you must report payments that are subject to 1099-MISC taxation. If the pay-to business partner differs from the business partner who reports the 1099-MISC income, you can use this session to link the pay-to business partner to the business partner who reports the 1099-MISC income.

  4. Zahlungsempfänger (tccom4124s000)

    On the appropriate menu, click 1099-Daten Steuerzahler (Am.) to start the 1099-Daten Zahlungsempfänger (Am.) (tccom4126s000) session.

  5. 1099-Daten Zahlungsempfänger (Am.) (tccom4126s000)

    Enter the business partner's 1099-MISC details.

  6. 1099-Kennziffern (tfcmg1115m000)

    Define the box numbers of the 1099-MISC declaration. The box numbers are assigned by the IRS to categorize the various types of 1099-MISC income.

  7. Zahlungsgründe (tfcmg0130m000)

    Define reason codes for the payments that must be reported. For each reason code, select the Gültig für 1099-MISC -Ablagezwecke check box.

  8. Gründe für 1099-Kennziffern (tfcmg1116m000)

    Link the reason codes to the box numbers.

Performing 1099-MISC reporting

To perform 1099-MISC reporting, use the following sessions:

  • Zahlungen manuell zusammenstellen (tfcmg1246m000)

    For payments that are subject to 1099-MISC taxation, in the Zahlungsgrund field, specify a reason code that is valid for 1099-MISC filing.

  • Datei 1099-MISC erstellen (tfcmg3204m000)

    Use this session to generate output for filing 1099-MISC Income payment information to the IRS.