1099 Reported Income Line

The following fields are always protected:

• Generation Date – defaults to the Application control date.

• Processing Indicator – defaults to New.

• IRS Reported – defaults to No.

If the Manage TIN by Department (1099_TIN_BY_DEPT) parameter is set to False on the Application Parameter (APPCTRL) table, the following fields are inferred from the 1099 Reporting Information (1099I) table based on the Taxpayer ID and TIN Type values entered for the line.

• Name

• Name (Cont.)

• Address

• City

• State

•  Zip

If the Manage TIN by Department parameter is set to True, the Taxpayer ID picklist filters records by TIN and TIN Type for the department and the above given fields will be inferred from the 1099 Reporting Information by Department (1099ID) table based on the Taxpayer ID, TIN Type, and Department values entered for the line.

The following fields are assigned by the system upon Save:

• 1099-S Form Number - The 1099-S Form Number will default to ‘0’ for 1099-G, 1099-INT, 1099-MISC, and 1099-NEC forms and for 1099-S forms when the 1099-S Reporting indicator on 1099P is set to TIN/TIN Type. It will be set to ‘1’ when inserting the first record for the 1099 Reporting Payer and TIN/TIN Type when the 1099-S Reporting indicator on 1099P is set to Property. It will be incremented by 1 when inserting subsequent records for the same 1099 Reporting Payer and TIN/TIN Type.

• When the Action Code is New on the 1099 Reported Income Line tab, then the M1099 transaction will insert a new record on the 1099R table. In order to prohibit duplicate records, new 1099 records on M1099 transactions will reject if a record exists on the 1099R table with the same “key” fields combination (Calendar Year, 1099-S Form Number, 1099 Reporting Payer, TIN, TIN Type, and Form Type). All box amounts will be blank on the M1099 transaction and upon submitting the transaction to Final, the box amounts will default to 0.00 on 1099R unless the user has entered an amount.

• All fields correspond to the information that should be reported in each box number on the 1099 form and if left blank will not update the 1099R table.

• When creating the transaction from the Transaction Catalog with the Action Code of Modified, you will at a minimum, input the Calendar Year, TIN, TIN Type, Form Type, and Reporting Payer and then select Validate. Upon Validate if a matching record exists on the 1099R table, all fields that are blank will infer the values from 1099R to the transaction. When creating the transaction from the Modify Existing Record link from 1099R, all fields will be inferred from the record.  The Generation Date will default to the current date specified in the APPL_SYS_DT parameter on the Application Parameter page and IRS Reported will default to No.  If the record does not exist, an error will be returned.  

• Once all the modification information has been completed on the M1099, the system will attempt to make the 1099R updates based on the M1099 transaction input. All entries will follow the current 1099R table validations, and all error messages from the 1099R table will display in the M1099 transaction.

• All the fields correspond to the information reported in each box number on the 1099 form. If no entries are entered, upon Save, the transaction will default in the values from the 1099R table.